GBPUSD short-term long idea. All that is needed right now, however, is a 1hr bullish signal. Usually the middle of the body of an engulfing candle (~1.21340 in this case with the bullish engulfing candle) is an s/r level and after a signal confirming the respecting of this one (retest on 1hr then upward movement), we will probably continue upwards to the next resistance level.
Long-term this is probably still trending downwards though.