Trend is bearish in four hours time frame. Critical resistance level is present at 1.2478 price area. As forecasted, price action resumed the down trend after printing a Bearish Running Triangle pattern. In last few trading hours, market is trying to move up.
To me; it looks like a a brilliant thought to wait for a bullish Wave X pull back and then take a sell trade to ride upcoming Bearish Wave Y leg. However; a bullish break out in price action above 1.2478 key resistance level will end the down trend. In such market scenario I might like to quit trading GBP/USD currency pair and redo 4 hours chart analysis.