A nice study. I wonder, why you want to be short, given this fresh breakout from the down sloping range. :-) Sure, in a short time horizon, some retracement seems to be warranted. What may be supporting further decline in this pair is the recent strengthening of the US dollar; whereas the pound - I still find it strong.
fxgraffiti
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Thanks for the commment. I probably shouldn't have labelled it as short. My bad. I think I just wanted to suggest that there may be good entry points in the offing.