The gratuitous spasms of the last two days have not altered the odds of a plunge to at least 1.2689.  The target and its sibling midpoint, 1.3091, are shown in the accompanying chart, which also conveys the weightiness of bear-market selling that has become well nigh irresistible.  With yesterday’s head-fake and relapse into weakness, we should now look for the downtrend to accelerate following a two-day close beneath the 1.3091 midpoint.