Had seen bearish risk Tues and market has slipped lower

GBP/USD long upper candle shadows highlight demand fade nL1N3HA0I4

A bearish engulfing line Tues and GBP set for back to back down days

The reversal signal will need confirmation

A 38.2% Fibo off 1.2299-1.2569 provides a bear target at 1.2466

The Fibo close to the 1.2467 May 1 low point

Key 50% retracement is 1.2434, a break here could cement the new bear trend

We will look for an opportunity to get short for drop under 1.2400

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