we are short towards1.3855 | 19 March 2021

Technical observation

On the hourly chart above, price declined and broke below a trend line as indicated above. It then retraced to it and was rejected at the same line. As long as this pair is contained below the trend you can anticipate bearish movements of price. My advice, if you sold GBP at the trend line above after a bounce, remain short with your take profit at 1.3855 and stop loss at 1.3942. Should there be a clear breakout above the line with a big green candle, My advice, wait for a correction to it and abounce confirming a possible rally to the upper side before you pick long positiosn towrads the resistnace level 1.3986.

Trade recommendation

Remain short with your take profit at 1.3855.