GBPUSD 1H Breakout Above Resistance – Waiting for ConfirmationGBP/USDOANDA:GBPUSDFXSMARTTGBPUSD is trading on the 1H timeframe. Price has broken above the key resistance at 1.33015. I am now waiting for a 1H candle close above 1.34623 for confirmation of bullish continuation. Key Levels: Resistance (Breakout Level): 1.33015 (broken) Critical Resistance for Confirmation: 1.34623 Next Resistance Target: 1.36442 Support (Invalidation): 1.33015 Lower Support Target: 1.31500 Current Price: near 1.33015 – 1.33500 Scenario 1 – Bullish Continuation (Long): If price closes a 1H candle above 1.34623, I expect continuation up to 1.36442. Entry: Above 1.34623 after confirmation (or on pullback to retest as support) Stop Loss: Below 1.33015 Target: 1.36442 Invalidation: Price closes back below 1.33015 Scenario 2 – Bearish Rejection (Short): If price fails to hold above 1.33015 and closes a 1H candle below it, I expect a drop down to 1.31500. Entry: Below 1.33015 after confirmation (or on pullback to retest as resistance) Stop Loss: Above 1.33600 Target: 1.31500 Invalidation: Price closes back above 1.33015 Pro Tips: 1. Price has already broken the first resistance. Wait for confirmation at 1.34623. 2. Do not chase. Let price show its hand with a clean close. 3. If price rejects from 1.34623 and drops below 1.33015, the short scenario becomes active. 4. Always check the economic calendar before trading GBPUSD. My Personal View: I am watching 1.34623 closely. If price closes above it, I will look for longs toward 1.36442. If price rejects and closes below 1.33015, I will look for shorts toward 1.31500. No chase. Patience. Not financial advice. Trade at your own risk. Tags: GBPUSD, Forex, Breakout, Resistance, Support, PriceAction, TradingView