Tap on your wallet’s icon on the top left of the screen. This opens the “Wallets” screen, where you can view your wallets as well as wallets in your watchlist.
At the bottom of the screen, tap “Import”.
You will then be asked to enter your new recovery phrase. Once finished, press the blue arrow to continue.
If there are multiple wallets associated with the recovery phrase, select the ones you want to import. Otherwise, import the single wallet that is shown.