Symmetrical Triangle on GBP/CHF @ W1

This symmetrical triangle at the end of the downtrend on the weekly chart of GBP/CHF offers an opportunity for a short trade in case of a bearish breakout. The triangle's borders are marked with the yellow lines. My potential entry point is marked with the cyan line. My take-profit level is shown with the green line. I will set the stop-loss level to the high of the breakout bar (not shown on the chart).

Order cancelled:

Cancelled due to upward breakout.