Ok, technical analysis is not enough.
But… Stochastic (8,3,3) in a weekly chart at 2,8 % is really heavily oversold, do not you think?
It’s the case of the cable:
The week has just begun, but I want to be ready…to go north! 
Don’t fight the trend. You could try to fade a bounce, but the trend in sterling is clearly down… across the board. The pair just broke to the downside (well, a few weeks back) out of a multi-year triangle. Now triangles, especially to the downside aren’t the most reliable of patterns, imho, but lets assume that it performs at just 30% of it’s usual measured move and we could get a target (from breakout price of 1.5735) of 1.4635. At 50% the target is 1.3869 and a full 100% move would target 1.2002. I think the 100% target would be pushing it, but 1.3869 (or even nearby 1.4635) seem fairly plausible. Look to fade any rallies would be my best guess here. Obviously, 1.5220/60 would be ideal, but barring that 1.5100/30 looks decent at the moment.
Yes, I don’t want to fight the trend 
I merely wait for the close of this weekly candle.
If the type of candle suggest a reversal and R:R is favorable for me (usually I set up a R:R =1:1,4), I’ll go long. Perhaps even a simple bounce may be sufficient for the success of the operation.