We are in an uptrend on GBP. Assuming this trend holds, there is a potential trade coming soon.
Trendline: I have placed a trend line that can be found on the Weekly Timeframe - In addition I have added the pitchfork so you can see the different levels that this price action has been moving in.
Support line: I found the support line in the D and the 4H @ 1.328.
Fibonacci Retracement: If you apply the Fib to the latest low and high, and if we expect to see a retracement to the .702-.78% zone.....
With all things considered...A good LONG trade will present itself. just above $1.339. S/L will obviously be set to just past the latest low.
Split your leverage up in half, just in case price dips slightly lower, so you open a 2nd position at a better price. Do not try to SHORT GBP until we see a break in trend and confirmation.
Be humble. Be Patient. Do not fall into greed. Have a great week!