Every trader that watch GBPUSD see 1.56750 (or there about) as massive resistance.
Traders call this line polarity change (was support in past and now is resistance)
Resistance was tested about 5 time and still holding.
After every test lows made are smaller and smaller making ascending triangle.
Ask yourself:" If resistance is going to hold why market is not moving lower already:
My 2cents is that resistance will break and GBPUSD will move higher.
In any case one should wait for break out to trade.
Traders call this line polarity change (was support in past and now is resistance)
Resistance was tested about 5 time and still holding.
After every test lows made are smaller and smaller making ascending triangle.
Ask yourself:" If resistance is going to hold why market is not moving lower already:
My 2cents is that resistance will break and GBPUSD will move higher.
In any case one should wait for break out to trade.
Feragatname
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