GBPUSD broker brexit low. can Fibonacci tell us a new story?

FX:GBPUSD   British Pound / U.S. Dollar
Since GBPUSD             has broken Brexit Low i am looking for extensions to tell us where GBPUSD             may head next. I'm looking for it to reject in the 1.26500, also in confluence with the half quarter, if it breaks that I'm looking for it to continue to 1.21 check screen shot below.

please also be aware that price is currently at the 2.24 extension which is a minor extension of 38.2 so we may see a correction or reversal here.
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