I've checked the red and white connections under the tank and they seem ok, however just behind the white plug there's an orange wire with a blue strip and a bullet connection just hanging there

Other than that all connections seem good, the speedo drive cable is ok so I'm guessing and slightly hoping this is all one fault caused by a dodgy electrical connection. Any help would be greatly appreciated!
P.s this is my first post (apart from an introduction) so if I've made a mistake or messed it up go easy.cheers.