Open to both possibilities, would side with longs for now

Since UK GDP is due in next 48 hours, i don't think it should make a breakdown yet, plus i see a bullish cross over developing in 4hrs, it could well be a fakeout as well. If it doesn't double bottoms or goes up from here then we can expect further drop to 1.90750.

I have longed 25% of my intended long exposure at 1.92450, would increase exposure, if Pre-london price action supports the bias and the ichimoku cross over matures. Until we create a new low below 1.91600, we can't say that the corrective pullback is over or the dominant uptrend is gone.