Looking to buy within 1.3661-1.3599 | 21 July 2021

Technical observation

GBP declined steadily to the supportive zone 1.3661-1.3599 and it is currently trading within it with an increasing bearish bias and I expect either a loss of this bearish movement within the zone or a clear breakout below it with a big red candle. In case of a rejection of price within the zone pick long positions after a bounce within it with your take profit at 1.4615 and stop loss at 1.3344. In case there is no bounce within the zone I have mentioned above but a clear breakout below it with a big green candle, wait for a correction to the zone and a bounce within it confirming a rally to the lower side before you pick short positions with your take profit at 1.2565.

Trade recommendation

Wait for a bounce within 1.3661-1.3599 to buy GBP.