GBPUSD Jan 17th to 21th Outlook
Recap of Last Week
Did not post about this pair last week as the better play was euro. The upside breakout triggered on this one anyway and the 200% upside expansion target was tagged at the end of the week.
Next Week Outlook
2x target tagging almost always leads to some consolidation first. Thus I do not expect a lot of action coming from this pair in the beginning part of the week.
If a pullback to last year close (red zone) happens, it will be a strong up move in the making if a 1-2-3 buy is staged off that area with initial target at previous week high (yellow zone) and 50% upside expansion (green zone) next. For this reason, it is on my monitor list this week.