Technical Analysis Based on Breakout — Short towards the lower trendline

GBP is still rallying within the rising channel. Unless this channel is clearly breached either to the upper or lower side, I only trade reversals. A breakout below the lower trend line will call for breakout trading towards 1.2768. On the 4 Hour chart above, I expect a bearish move towards the lower trend line and a possible breakout to the lower side.