Sterling to gain some momentum with further dollar decline?

Keeping it simple here with a key area marked, fib and trendline .

Uncertainty and recent events in the US could leave to the dollar weakening more over the coming days / weeks. With the fib drawn we could potentially be in for a bounce from the 61.8 level and looking at the 4hr chart this level matches us with some previous support that we are consolidating around currently. Personally I would wait for a clean breakout from this consolidation on the 4hr chart before entering long. We could see a new high formed here but I would feel comfortable riding this up to the previous high to be on the safe side.