The last two days are trying to close higher, but..
The GBPUSD has been lower on the day on 11 of the last 12 days. The exception was on Monday when it closed higher. The move over that time period has taken the price down about 580 pips from the high to the low reached on Tuesday (since Dec 11 it has moved around 890 pips lower). Yes…Tuesday. Despite being down yesterday and flirting with being down today, the low from Tuesday at 1.4351, has not be broken. There is consolidation going on.
Picking a bottom involves defining risk and getting counter trend clues
