GBP/USD: Possible re-entry level for a short...

In case this pattern completes it might be a good re-entry level for a short: right shoulder of H&S pattern around the 0.50-0.618 retracement of the down move...
SL above the high, TP1 at 0.6181 and previous swing low and S/R. If it all works out and continues down then take TP2 around 1.25 where the original TP2 for the bearish harmonic is..

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Only take this if confirmed by lower TF bearish indication.

If this retracement is over and we eventually take out the high and continue with HH's and HL's then we might be in for a strong bullish wave with targets around 1.40 to 1.45...