Pound at the 61.8% fib retracement right now on the hourly chart.
To play it from the long side enter here (2.0325) with a 30 pip stop and 150 pip profit target.
To play it from the short side wait for a pullback into the 2.0375 - 2.0425 area and enter on a reversal candle (e.g. doji, shooting star, etc.). A 30-50 pip stop is plenty, with a 200 pip target. More aggressive entry: don't wait for a reversal candle to close. Enter at the downward sloping trendline that begins at the 2.0494 pivot high ( trendline not shown in the picture).
To play it from the long side enter here (2.0325) with a 30 pip stop and 150 pip profit target.
To play it from the short side wait for a pullback into the 2.0375 - 2.0425 area and enter on a reversal candle (e.g. doji, shooting star, etc.). A 30-50 pip stop is plenty, with a 200 pip target. More aggressive entry: don't wait for a reversal candle to close. Enter at the downward sloping trendline that begins at the 2.0494 pivot high ( trendline not shown in the picture).