Right now, we can either sell if we get overbought readings and/or a test of the 'Flash crash key level' in red above, or if there's a breakout to the downside. To enter the trades, if we get a test of resistance, we can risk 1 ATR above the key level, but if we also hit overbought readings in , we can take a trade based on one of Tim West's proprietary tools, the RgMov indicator, but I won't explain the entry parameters here since the price action needs to materialize before I confirm it.
The breakout trade will form a 'Time at mode' downtrend signal in the if it happens, which indicates a drop to approximately 1.51220 within 11-12 bars, but, it also hasn't confirmed yet so I can't specify the ETA and give a signal for entry that won't need daily revision, hence I'm sharing it on a daily basis with my trading signals clients only. A good substitute for this more specific and tighter stop entry, is to simply short a breakout of the last 3 days' range, risking a rally above 1.6025.
Good luck, and please, don't go long GBP in any shape or form, the fundamental risks are large.