GBP/USD : Short @ 1.6166

• Possible trade setup here, although not exactly optimal at current levels around 1.6140.
• Monthly : Still within long tracked 4-year big triangle formation [on last cable trade here in July, was caught short by false downside break of triangle at 1.5400]. For this month, upper edge of triangle is at 1.6490. But there is no rule that price must back up all the way and turn back down to form a third upper corner of the triangle. 
• The actual classical monthly triangle trade is to sell a confirmed downside break of 1.5390. We are nowhere near this yet. The much less optimal route is to try pick a top near the upper region of the triangle. The early entry at high levels will be a big psychological advantage later if works. 
• Weekly : 1.6300 is looking to be a possible double top, so good place to try the early short trade against a stop close above.
• Daily : Upmove looks over-extended.
• Trade : Short a tiny amount at 1.6166, and leaving myself ample room to increase risk towards 1.6250.