GBP/USD - 4H.

On December 31, the GBP/USD pair completed the growth to the correction level of 61.8% (1.3281), which I designated as the last, third target for purchases on the previous trading idea. Thus, the rebound of the pound-dollar pair from this level worked in favor of the US dollar and allowed traders to consider sales. The pair remains within the larger downward trend corridor and performed a reversal in the upper area. The U-turn occurred even a little above the upper line of the corridor, but "perfect shots-rebounds" do not happen every time. One way or another, but a new sales signal was received with the goals of 23.6% (1.3048), 0.0% (1.2904), and if you take a longer-term plan, then even lower. However, for now, I recommend considering realistic targets of 1.3050 and 1.2900.

Forecast for GBP/USD and trading recommendations:

The trading idea is to sell the pound with targets of 1.3050 and 1.2900. Ideally, it would be best to sell near the top line of the downward corridor, but now it is also not too late. The price has not moved far from those levels and has a strong potential to fall.