
Price action is in a 3-day Sell cycle, and for any new trend to begin these 3-day highs needs to break higher...
Market is trading around the 5-day 50% level (choppy)
Looking at price action and the past 3-day of trading, the 5-day 50% level is an area of interest because of the head and should pattern formation :- below and its heading down...
However, a bounce off the 5-day 50% level on Thursday and I'd look for a move towards the Thursday highs and and maybe a follow through (breakout)...it would need to remain above yesterday's 5-day 50% level....
1.95405 Risk

However:- A break above the Spiral high @ 1.9592 and I wouldn't short the GBP as it would look to follow the move back towards Thursday's highs, as it rises upwards from the 5-day 50% level...