Hard frosts can kill a rose stem back a few buds, so don't prune it more than 3 or 4 buds from the base. It'd be better to wait until Spring has arrived.
Stefan Buczacki says "In cold areas, leaving the old growth on during winter provides the plants with protection against hard frosts, which will, in any event, kill off some shoot growth." and who are we to argue with him!
I do my initial pruning in winter once the leaves have fallen, but like to finish off about now. When you can see the buds starting to come through you can see where's a good point to cut to for the new year's shape. Today's quite pleasant so I'm off to do it now.
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