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.
Thanks and successful Trading :)!
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.
Thanks and successful Trading :)!