The GBP/USD pair began to correct at night on Tuesday, December 29, and so it spent the whole day doing this. Since the upward trend for the pair has already reversed, we advised you to consider opening short positions. Since there was no sell signal during the day, you should not have opened positions today. At least following our recommendations. In general, after breaking the rising trend line, the downward trend persists, so you need to wait for a new sell signal from the MACD, especially since this indicator has already been sufficiently discharged (above the zero level). As for long positions on the British pound, a new upward trend is unlikely to form in the near future, therefore you should not consider them yet.
Fundamentally, there is still absolutely nothing to say now. The UK and the European Union have both agreed on a trade deal, but now there is little to do - it needs to be ratified by both parliaments. The British Parliament will meet to decide this issue on Wednesday, the European Parliament - in February-March next year. However, in fact the deal has already been approved and is unlikely to be rejected by any parliament. Thus, they are just formalities, and the solution is unlikely to affect the pound/dollar pair. We do not expect any important news in the last two days of the outgoing year. The main thing is to end the year without unnecessary losses in the final days.
No important macroeconomic reports or other events scheduled for Wednesday, December 30. Thus, there won't be a fundamental background, but this does not mean that the pound/dollar pair will be immobilized. As we could see, the trades were quite active in recent days.
Possible scenarios on December 30:
1) Buy orders have lost their relevance, since the price settled below the trend line. And so, the bulls have released the initiative and now we need to wait for a new upward trend in order to be able to trade up. Such a trend is unlikely to appear the next day.
2) Sell positions are more relevant now. The pair corrected and is now preparing for a new round of downward movement. Thus, novice traders can only wait for a new sell signal from MACD and open new short positions while aiming for the support level of 1.3392.
