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GBP/USD chart on the hourly time frame

The pair is moving within an ascending channel, and we see the price approaching a key resistance level at ~1.3390–1.3395 after a clear upward surge. The MACD indicator is also showing a positive shift (increasing green bars), which supports the temporary bullish scenario. However, the momentum remains susceptible to a rapid reversal on any negative news.

• Key levels:

Support: 1.3270 – 1.3205
Resistance: 1.3360 – 1.3395

• Signs:

A clear and sustained break above 1.3395 could push the price to higher levels in the short term.
A failed breakout and a bounce below 1.3360 could see the pair retest 1.3270.
Overall trend: Cautiously bullish (as long as the price remains above 1.3270).

Expectation: The upside is favored within the channel, but watch for any weakening of momentum that could trigger a quick correction.