So the potential breakout has happened before the UK markets opened. Break occured this morning around 7.00am and was confirmed by the second M30 candle starting outside of the support area.
A great 20 pip probing break has happened and we are now around the 1.2485/75 area.
I'm hoping that this mornings market will go with it and eye the first Fibonacci TP level of 1.2458.
There is the 200 EMA level of 1.2462 to break past first so maybe set first TP at 1.2460 area and try to make 15-25 pips before looking at whats happening next.
Is this the end of the GBP/USD bull run? Or will we see a reversal on this mornings session back into the channel?
A great 20 pip probing break has happened and we are now around the 1.2485/75 area.
I'm hoping that this mornings market will go with it and eye the first Fibonacci TP level of 1.2458.
There is the 200 EMA level of 1.2462 to break past first so maybe set first TP at 1.2460 area and try to make 15-25 pips before looking at whats happening next.
Is this the end of the GBP/USD bull run? Or will we see a reversal on this mornings session back into the channel?