GBPUSD - Bullish or Bearish Break? - If, then...Hi Traders!
The market is moving in a Range.
As you can it was falling until 1.20800.
During this fall, it made a Gap.
The Price closed immediatly the Gap and since then it was moving up.
Until it reached the Resistance Area at around 1.22500 it rallyed.
In the H4-Timeframe you can see, that this area is a really important Level.
But it is now unclear, wether it broke the Resistance (so it's a Support) or it is still at Resistance.
That's why it's unclear, wether the price will go up or down.
As a Result, the market is stuck in a Box.
If the Breakout occurs bullish, then the target would be the Resistance at 1.24300.
If the Breakout occurs bearish, then the target would be the Support at 1.20800.
We recommend to trade the Breakout with a Confirmation.
Thanks and successful Trading :)!
