GBPUSD currency pair on H4 chart is on 50 percent abolition of the last growth impulse, which provides support. Tests also channel created by Bollinger Bands (interval: 20, standard deviation 0.5).
If support stands, you can look for opportunities to take long positions in accordance with the short-term bullish trend. Such an opportunity may occur when price will create a sequence of higher low – a higher high over previously mentioned Bollinger band on a 30-minute chart, which will potentially mean the end of correction. We should also take into account the increased volatility that may occur after data from the United States at 14:30 when we know GDP and orders for durable goods.
