Neutral indicator switch
Moto Guzzi V700, V7 Special, Ambassador, 850 GT, 850 GT California, Eldorado, and 850 California Police models
Removal and replacement
The neutral indicator has a curve/bend at one end. When installing the indicator, the curved/bent portion of the indicator should point down.
As an alternative, the indicator can be installed with the bend facing up. Then, take care to adjust the bend so that it just makes contact with the nub on the shift drum. Doing so will make the neutral indicator light much more precise. Greg Field provided this tip.