Pair GBPUSD made this week's new high at 1.35000 during the Asian session, after which we have a brief consolidation to MA20 and MA50 moving averages to get their support to continue the bullish recovery. The broader picture tells us that we are in a falling channel and that we are now bouncing off the bottom line and climbing up towards the top line of resistance. Bullish scenario: • We need support for MA20 and MA50 moving averages in the 1.34500 zone. • Then we need a new break above 1.35000. • The next higher resistance awaits us in the zone of the previous high at 1.36000 with an additional resistance of the MA200 moving average. • Further growth of GBPUSD can lead us to the upper line of resistance of this channel. Bearish scenario: • We need new negative consolidation and a break below 1,34500 and MA20 and MA50 moving averages. • The first subsequent support is at 1.34000, and then this year's minimum is at 1.33500. • Our maximum bearish target is 1.33000 lower support line.