GBPUSD Jul 18 to Jul 22 Outlook

Recap
Sold off in the beginning of the week. Bounced off fib level (see USDCAD comment) and rallied all the way up to 200% absolute range expansion target. Ended the week stuck at the top part of the week`s range.

Outlook
Unlike the metal currencies, cable is showing clear intention of holding above Y+1 and to go higher. Breaking above B+1 means B+2 and B+3 in play.