Wait | 29 March 2021

Technical observation

GBP is retracing to a supportive zone it established at 1.3599-1.3478, I expect a loss of this bearish rally within the same zone for an increase of price towards the key level 1.4615. My advice, remain flat temporarily and wait for a correction to the zone mentioned above and a rejection within it to buy GBP with your take profit at 1.4615 and stop loss at 1.3134. Should there be a breakout above the line 1.4615 with a big green candle, wait for a correction to it and a bounce before you continue long with your take profit at 1.5891. On the weekly chart above, I can only recommend short positions below the zone 1.3599-1.3478.

Trade recommendation

Remain flat.