GBP BROKE BELOW 12165 and tested T1=12075-11940 upper range(12075), where to now R=12165-12200 & R=12230-12260 , BREAK OUT ABOVE 12165-12200 THEN HIGHER PRICES, failure then continuation lower to lower range
T1=12075-11940.
FROM 12642-12266-12467= 12092(100%), 11990(127%),11861(162%), at 12075 there is an a,b,c completed but does not imply continuation lower, price could consolidate between 12647-12075 that is a big range.
12020= 50% from 11405-12672 and prices are within range, caution warranted.