We're short towards 1.3811 | 24 June 2021

Technical observation

Just like EUR, GBP retraced to a resistance zone it has established at 1.4007-1.3998 but did not break above it and as long as price is contained below this zone, I can only recommend short positions for this pair. If you went short with this pair within the zone I have mentioned above after a bounce, remain in the trade with your take profit at 1.3811 and stop loss at 1.4052. In case of a clear breakout below the key level 1.13811 with a big red candle, continue short with this pair after a correction to the just broken line and a bounce at it, however, in case of a bounce above the same line, wait for a correction to the zone 1.4007-1.3998 to re-sell EUR.

Trade recommendation

Remain short with your take profit at 1.3811.