GBP/USD - 4H.
On January 3, the GBP/USD pair continues to fall in the direction of the corrective level of 23.6% (1.3048), from which it can perform a rebound and start the growth process. However, the pound-dollar pair remains within a largely downward trend corridor and performed a reversal in favor of the US dollar in its upper area. Thus, I believe that the fall in the pair's quotes will continue and this requires fixing under the Fibo level of 23.6% (1.3048). In this case, the fall will continue with the goal of a corrective level of 0.0% (1.2904), after reaching which you will need to look at what will be the mood of traders, as the potential fall of the pound may continue even lower. However, I still recommend considering the level of 1.2904 as the final trading idea for the pair's sales.
Forecast for GBP/USD and trading recommendations:
The trading idea is to sell the pound with targets of 1.3050 and 1.2900, and the first of these goals have already been worked out. Thus, already around the level of 1.3050, it is quite possible to fix a profit. I believe that the second goal near the level of 1.2904 will also be worked out next week.
