Price is trying to break above range : But still confused..

Hello Traders ,

We have seen that GBP doesnt want to move lower , however path to move higher is not clear yet .... One point which can be clear if today daily candle closes above red descending trendline that price will be leaving its current range and will move higher and if GBPUSD manages to consolidates gains above trendline then it will be easier for it to move higher breaking above current horizontal resistance ,

However important thing to consider is Bollinger squeeze in daily chart which may create some false moves and trendlines may not be so reliable in such conditions... therefore we recommend not to trade current breakouts and wait for it if you are trading in daily chart... if you are intraday trader then you may look for range trading near s/r zones ,

During bollingr squeeze trading with ATR is also very profitable , sell or buy in opposite direction if price moves higher/lower with high ATR readings together with bollinger band squeeze..

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