Sell below 1.3991. Stop loss at 1.4166. Take profit at 1.3639.
Reason for the trading strategy (technically):
Price has shot up to test our selling area before reversing nicely once more. We remain looking to sell on strength below major resistance at 1.3991 ( , horizontal pullback resistance, breakout level) for a strong push down to at least 1.3639 support ( , exit potential, horizontal pullback support).
(34) has made a exit from its long term ascending support-turn-resistance line signalling that we should be seeing a change in momentum to on GBPUSD .