GBP/USD Technical Analysis: Climbs beyond 200-hour SMA to test ascending trend-channel resistance

   •  The pair built on its recent bounce from over two-month lows and continued gaining some positive traction for the third consecutive session on Tuesday.

   •  The momentum has now lifted the pair above 200-hour SMA to test a resistance marked by the top end of a short-term ascending trend-channel formation. 

   •  Technical indicators on hourly charts have been gaining positive traction and support prospects for an extension of the ongoing recovery momentum. 

   •  Meanwhile, the mentioned hurdle coincides with a previous confluence support break-point - comprising of 200-day SMA and a descending triangle pattern support. 

   •  With oscillators on the daily chart are yet to catch up with the up-move, any subsequent recovery seems more likely to fizzle out near the key 1.30 psychological mark.

GBP/USD 1-hourly chart