I like to see a third leg lower for GBPUSD on the 1 hour time frame and then look for a buy towards 1.36 and 1.39 respectively.
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Moving as expected, watch for break, stop loss should be below wave 2.
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Place stop at break even if you entered as described. I target 1.36 for risk/reward of 12/1 with 2% risk. Stop is at break even and I will be looking to add after a consolidation. (this was we can build this position to target 50% return on capital) The levels are not written in stone so we adjust when needed but this was my original plan and so far so good.
