Oh - to soak the towel I fold it in half along the length, roll it up halfway, run the tap on the roll with with the towel acting as a sink plug, then roll the dry bit around the wet bit and squeeze.
I'm less scientific than Ailbhe, and have more arm strength available. So I just roll the towel into a sausage
Twist it to ring it or until not dripping (or not very much anyway)
And then hang in the window - not letting it gather in a heap at the bottom - so air can squeeze under/around it (and be cooled in the process)