GBP – That 2790 survived so far increases probabilities of a back fill toward 2850 and if that survives then down it goes. If 2770 hits and lingers this pair is likely to target 1.2700 in my view. Anything in the middle of that is horseplay in my view. It is a matter of the market finding fair value with all factors considered. Smaller picture the activity is on the sell side, a bit larger picture it is still bid.
