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GBP/USD - 4H.
On January 6, the GBP/USD pair performed a reversal in favor of the English currency near the correction level of 23.6% (1.3048) and began the process of growth in the direction of the upper area of the downward trend corridor. Thus, we can assume that the first pulse of the signal about the rebound from the level of 1.3281 is completed. Now it is advisable to look for a new entry point for new sales. I believe that such an entry point can be located under a small line showing a correction. Fixing the pair's quotes below this line will work in favor of the US dollar and the resumption of the fall in the direction of the correction level of 0.0% (1.2904). The closing of the pound-dollar pair over the downward corridor will cancel all the sell signals received earlier.
Forecast for GBP/USD and trading recommendations:
The new trading idea is to sell the pound with a target of 1.2900 if a signal is received to resume the fall of the pair's quotes. Thus, I recommend waiting for the pair to close below the correction line (near the level of 1.3048) and sell the pair again. Take Profit, in this case, will be about 150 points.
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