GBPUSD Jun 08 to Jun 12 Outlook

Recap
Down channel break led to a run to my target mentioned last week. It also lined up nicely from early week low at 100% absolute range expansion. Cable stalled from there and collapsed back down. Closed the week near Y-1 and below midpoint.

Outlook
Cable pullback to daily level resistance and continue to sell off last week confirms the strength of the daily down trend. This can lead to a surprise flush more powerful than many people anticipated.

To end the daily down trend, B-1 must be defended and a weekly close above B+1 is necessary.

Otherwise more downside is likely.