USD/GBP - Short Setup Developing - 1.70 Sept Puts

Idea is simple:

1. Wait for market to recover to 1.7116 - 23
2. Buy September Put Options with a strike of 1.70 (personal preference)
3. Wait

Rules:
1. If market proceeds to make a new high above the 1.7190 High on the 15th of July.... Close position.

Why am I using options?:
1. Risk is fixed.
2. Greater leverage because we are expecting a SHARP selloff from this set up, not simply a drift.