GBPUSD Jan 02 to Jan 06 Outlook

Recap
The weaknesses observed last week played out well and cable dropped below target Y-1. After 100% absolute range expansion is completed, cable bounced off and closed the week at midpoint.

Outlook
Price action is bearish. B-0 is now the critical point.

If cable managed to stage a buy setup off this level, it can pop back up to B+1 and Y+1 easily.

If a sell setup is formed off B-0, we get much lower prices.