This is a technical break, and there have been congestion points, @ 214.88 (161.8% fib) and 215.15 (former resistance from the beginning of the year). Now we're at another congestion point @ ~215.45 (215.47 was mentioned earlier) - yet another resistance stop-over on the way down 6 months ago. Glancing at the calendar, you can see the BoE minutes are the only release that could have effected this, but the contents of the minutes belie that explanation.
Remember your history. Not specific levels, necessarily - don't use historic data to predict tops and bottoms; but look at what directional momentum can do to this pair: hundreds of pips are nothing within a relatively short period of time. For anyone newer to this pair, the relative inertia through June and the first half of July is atypical - *this* is the Guppy!
Know the pair: don't assume 200 pips in 3 hours can't turn into 300 in 3.5 hours - the pair can
always continue going up, or down, defying your expectations of where it should hesitate or pullback. Have a look back at the ATR over the last year: you'll see that these past several weeks comprise the lowest volatility the Guppy has experienced in the last year! Fortunately for those who aren't really conducting any analysis of the pair, this time the move favored long positions.
Linear Mode
