GBP/USD analysis, chart, and trading idea

The trend is descending. The currency pair is trading within the 365 and 135 moving averages (EMA) range. A breach of 1.1150 will give rise to the formation of a downward wave pattern within wave (C) of the main descending pattern. 

Trading idea:

Sell on a breakout of 1.1150.

Stop Loss: 1.1384.

Target levels: 1.0934; 1.0723.