GBPUSD May 12 to May 16 Outlook

Recap
As expected, Cable has more upside to go and that played out last week. A directional squeeze up to Y+2 near 1.7 finally produced an exhaustion. Cable weaken since and then collapsed when it failed to hold Y+1. Closed the week near Y-0 and week low.

Outlook
Weekly reversal in place. As long as Y+1 is holding cable down, looking for more down side with first target below B-2.