I'm not quite as certain about this as I am about my EURUSD analysis. There's a lot of uncertainty in play for the British Pound right now. However, I don't currently have much confidence in the US dollar. Now, this pair could possibly reach as low as 1.23150. However, my buy limit will be right on the 0.50 on the Fibs at. 1.23900. I'll be sure to leave margin room just in case it drops lower. If it does, I'll be considering tossing in another buy around 1.23150.
