GBPUSD Sep 01 to Sep 05 Outlook

Recap
Cable tried to bottom yet not producing a strong reaction at Y-1 to go higher. Instead, it is trapped below the 1.66 key price level mentioned last week. Closed the week above Y+1 and midpoint.

Outlook
A ledge after strong selloff is bearish. A retest of B-1 and below is likely. Until B+1 is cleared we cannot be sure the daily down leg is over.