GBPUSD Has been trading in 200 pips range for weeks. Breaking out of these levels gives us the measured range of 200 pips. We will be making new highs or new lows at these levels. The highest level before that was on mid August (~1.6570) and the lowest level before that was at the end of May (~1.5260).
RSI Currently is pointing down. The parity is also sitting under long term descending resistance which is starting from April 2011. Tried to break the resistance on January 02nd, however could not manage to...
Even though south seems like a better opportunity best way is to wait for confirmation.