Disliked{quote} I wouldn't long just yet. Look on your daily chart, right where you have your smallest rectangle look left, GBP/USD is right on daily resistance. IMO there is a good chance it will go through it as the candle closed at it's high, but it's a bit premature to long on the daily just yet. I was in a buy trade for gbp/usd on h4 and took it upto this point which was also a H4 resistanceIgnored
Good comment Kain nobody right or wrong we are dealing with high probability so anything can happen.
If it was last year I might take a short entry on H4 for a quick pips
But with ME/ME trading style - if I can recall there was someone asked Emmanuel ''don't you worry about fakey(false breakout)''
Emmanuel replied '' with average entries 5 lots in one basket would make BE, small lost or small profit fit but if it is not false breakout then you have got a big win"
My chart was BPP daily setup for next week trading that why I put a small square - to be caution.
Note: I will check this comment again it is very important to me.
Sorry for my English
Best regards,