GBP/USD remains in an uptrend

Today, the GBP/USD pair is trading in the range of 1.2960-1.3010, having reached a new 4-month high. The pair continues its upward movement, holding above the moving average line, MA (200) H1 (1.2930), which indicates a bullish trend. The price is currently trading near the 1.2970 mark after a recent test of the 1.3010 resistance level. In case of consolidation above this level, further growth towards 1.3050 may follow. The nearest support is at 1.2910-30, with a breakdown of which a rollback to 1.2860 is possible. The MACD indicator shows a decrease in momentum, which indicates the likelihood of a short-term correction, but the overall mood remains bullish. In case of increased selling pressure, consolidation in the range of 1.2910-1.3010 is likely before further directional movement.

Resistance levels are: 1.3010, 1.3050, 1.3080

Support levels are: 1.2910-30, 1.2860, 1.2820

The main scenario for the pair's advance assumes a breakout of the session high of 1.3010 (Nov 7 high) and there may be an increase to 1.3050 (Nov 5 high)

An alternative scenario implies a breakout of the support 1.2910-30 (March 12 low, MA (200) H1) and there may be a decline to 1.2860 (March 10 low)