That's simple idea to trade short as a rebound from 100 day , overall trend is still that undoubtedly adds odds for short position. Also stochastics (14 3 3) on H4 and D1 are in overbought zone both that confirms continuation of downtrend. I put in s/l that exceeds average day's for the last 10 weeks. But s/l could've been far smaller as there is clearly seen resistance on H4.
It's still dollar-bulish market environment, though British economy is doing not so bad, there is "election mode" coming which adds uncertainty about GBP.