Seems that the past few days GBP always gets sold down during Asian hours whilst the British are sleeping. With the market weighing extremely on one side, a reversal could trigger an avalanche. Covering the GAP to me is a given and bears who short there will get slaughtered. 1.4 is a key level to watch, which happens to be weekly RSI 50 level.
this is only a relieve rally so do not overstay your welcome. UK GDP and FED should give some room towards the upside for everything till the Mark Carney comes along and spoils the party for everyone.
The market always likes to go in reverse mode before turning around to catch shorts or long. In this case if there is a breach, look out for RSI30 as last line of defense. This could be a candle with a long wick tail and you would not see RSI30 referencing to historical charts.