GBP/USD falls to a low of 1.2119 in a quick 35 pips drop

GBP/USD D1 30-07

I don't think there's much else left to say that hasn't already been said. Price now closes in on the March 2017 low @ 1.2110 in quick drop before the start of European trading.

The chart is still looking ugly and as mentioned earlier, this isn't the right time to go picking at a bottom in price action.