The breakout of GBP/USD through the 1.2107 price line is a breach of an important psychological price that is has tested numerous in the past. If this breakout persists, we expect the price of GBP/USD to test 1.2042 within the next 16 hours. One should always be cautious before placing a trade, wait for confirmation of the breakout before putting any money down.
After testing 1.2107 numerous times, GBP/USD has finally broken through. Can we expect a bearish trend to follow?
