GBP/USD Technical Analysis & Forecast

At the moment we can observe a change in the trend for our pair against the backdrop of political factors and the strengthening of the American economy. Currently on the daily chart we see a slowdown in the downtrend. The downward impulse was strong enough and a price retracement is possible. If we consider the price movement from the side of the wave analysis, then at the moment the second corrective wave is formed on the daily chart. Thus, right now you can search for points to enter long positions. However, we advise to wait for the completion of this movement, as it is possible to change the trend and the downward movement will gain momentum again. The levels to which the price movement is possible are 1.3600 and 1.3720. Therefore, it is worth waiting for the confirmation by the technical indicators of the resumption of the downward movement, because given of the new factors, the correctional movement may soon come to an end.