GBP/USD at risk of a deeper downside extension below 1.26 this time?

Following the previous update noting the slide in the EUR/USD into the 4pm London fix, subsequent to that event, the EUR/USD has now traded below the 1.0500 handle and it is extending that move right now, taking out the previous low set in November 14, at 1.0497. This fall to a new 2024 low has added pressure onto the GBP/USD, as the EUR/USD now trades below 1.0485 and sets a new 2024 low at 1.0475. The recent low on the GBP/USD was set at 1.2597 and it is being put to the test right now. In fact it has just been taken out. Looking at the charts on this one, there is a risk of deeper fall towards 1.2500 now that 1.2597 has been surpassed. The GBP/USD is right now trading at 1.2596