94 thunderbird 4.6 speedometer not working

Hi, I have recently purchased a 94 thunderbird 4.6L with many problems, the major ones have mostly been fixed(coil pack, eec, water pump), but the speedometer and fuel guages don't work. I took the instrament pnel off and realized they are electrical. I have heard there is a speed sensor somewhere which could be to blame. Any advice would be helpful. Also, the odometer DOES work. Thanks

Most likely if odometer works then you have a bad speedometer head. They both run off the same sensor in rear axle.

The speedometer speed sensor is in the tailshaft of the trans.