We're long within 1.3821-1.3808 | 23 April 2021

Technical observation

On the 4 hour chart above, price is declining steadily towards the supportive zone it established at 1.3821-1.3808, I expect a bounce within the zone mentioned above for a possible surge to the upper side; however, price could still penetrate below the same zone with a big red candle. If that is the case, wait for a correction to the just broken zone and a rejection within it confirming a possible momentum to the lower side before you sell GBP. However, if price is contained above the zone 1.3821-1.3808, pick long positions within it after a bounce with your take profit at the resistance level 1.4001 and stop loss at 1.3755.

Trade recommendation

Buy GBP within 1.3821-1.3808 with your take profit at 1.4001.