GBPUSD Feb 13 to Feb 17 Outlook

Recap
All eyes on Greece and that have effective frozen cable and euro around where they were closed the week prior. After the last minute deal was done, normal sell the news behaviour kicked in. Cable slided back down to Y-0 to close at the low of the week.

Outlook
The end of the week flip flop announcements from euro zone was really not helping to clarify the situation there. As far as the world knows, there will be more votes as early as Sunday night to deal with the debt issues with Greece. Another week of news driven move is expected.

Bearish scenario – if B-1 acting as resistance looking for a quick drop to B-3.

Bullish scenario – a retest of B+1 but that will likely put a cap on the move.

So, overall limited upside with a lot of downsize risk.