GBPUSD heading into a possible breakout

1 Mar 2021

GBPUSD has settled into a range and looks like it could be breaking out over the next few hours. Hard to tell whether it will break up or down right now but once it begins to happen it will become clear. Looking at the 4h timeframe however I have tentatively marked this as a short opportunity however the next few hours will really tell more.

1 Mar 2021

Not

Price held really nicely at the upper trend line lending more support that the idea is holding. Nice range to trade between if you short at the top and long at the bottom.

1 Mar 2021

Not

Updated bottom trend line due to latest dip. Price still holding nicely in range but looks closer to 1am GMT that breakout will be happening