GBPUSD → Is this a breakout or a fakeout?

On the daily chart, we can see that the GBPUSD pair is currently breaking out of the trendline. The buyers are likely to pile in with a defined risk below the most recent low and target the 1.23 resistance. The sellers, on the other hand, are likely to wait around the 1.23 handle to step in with a defined risk above it and position for a drop into the 1.1840 level.