Remain bearish towards 1.3450 | 25 March 2021

Technical observation

GBP broke below the supportive zone 1.3806-1.3786 with a big red candle then pulled back to the just broken zone but was contained below it. On the 4 hour chart above, as long as price is contained below the zone 1.3806-1.3786, you can only anticipate the value of this pair to plummet towards the supportive level 1.3450. If you picked short positions within the zone mentioned above after a bounce, remain short with your take profit at 1.3450 and stop loss at 1.3881. In case you are currently flat with this pair, remain so and wait for another correction to the zone to sell GBP. I can only recommend long positions above 1.3806-1.3786.

Trade recommendation

Remain bearish with your take profit at 1.3450.