GBPUSD Apr 29 to May 03 Outlook

Recap
Tried twice to break Y-1 and failed. Once Y-0 was cleared, a reversal is in place for a run back upto at least Y+1. Y+1 and Y+2 was taken out with full force in 1 go. Closed the week above Y+2 and near week high.

Outlook
Last week was a classic failure of the head and shoulder pattern, which then turn into a bull flag and mess with the bears.

At this point, however, once the pressure is off, we need to know if it is a true upside breakout. A test of Y+1 is necessary here to confirm the strength of the breakout. If Y+1 holds, we can get B+2 easily next week.