I take that back/ The only thing that looks viable is to get in on a south break for the EUR GBP. 8825 on GBP 2743 on EUR. So I'm going to set sell stops there.
If you look at the weekly chart you can the trend over 3 years. Each year there was a small movement north before moving a huge downtrend. In 2004 this turning point was in May. In 2005 this turning point was in May. for 2006 the turning point has yet to be seen for a huge downtrend but in May the trend was opposite in May the low was shown for the year. So you be right about a northward movement I see it moving some more down before anything.