GBPUSD Feb 06 to Feb 10 Outlook

Recap
Pullback happened, but the double top formation failed to break its neckline and turned into a classic ledge finding support at Y-0. Target Y+2 tagged by middle of the week. Closed the week above Y+1.

Outlook
Euro zone feeding news and rumors out that are not truthful but enough to create a squeeze on cable and euro dollar. That means some time in near future if the promises are not fulfilled, then we get a replay of 2011 August.

As long as B-0 acts as support cable can squeeze out one more leg up to B+2 area.

If B+1 acts as resistance, cable will drop quickly down to B-2.