For this setup I'm zooming in on the 1 hour time frame. While this pair remains on a bearish trend overall on the larger time frames, it looks like we will be getting a drawback. Keep in mind that since this setup is technically a drawback right now that it carries a little more risk than a standard trend trade setup, so I will only be risking 1.5% of my capital...
Watch out for a continued rise in the Euro. Brexit negotiations leading the way, more pain to come for Sterling.