Breaking the trend. GBP/USD Long

The cable has pretty much traded within the channel, it's tested both the resistance and support levels. I am thinking my next target may be the 1.2382 level, either for a bounce or a breakout. Either way it makes for an interesting trade, either 50 pips to resistance or are we going to see another test of support. Both have been hit 3 times, its going to go somewhere!