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Shivani Financial GBP/USD short term bottom seems 5478-5383 and top 6210-42. Shivani Financial EUR/USD short term bottom seems 2580-2618 and top 3510. Shivani Financial USD seems to weaken this quarter with GBP target of 6330 and EUR of 3250 if talks of QE3 takes place and euro area resolution policies implemented without new story. Shivani FinancialGold has taken correction according to our forecast for it to go 1850 by August end.

Friday, April 20, 2012

GBP/USD outlook


GBP/USD outlook: Intraday 6014-57 is key level. Targets below are 5995, 5940, 5917 and 5866. Above targets are 6083-86, 6108, 6164 and 6210. Today’s sensible range is 5940-6108/64. Further, if gold stays above 1640 or if EUR/USD stays above key level of 3113-3146 than GBP/USD downside risk might get limited to 5995. If the market goes out of these ranges stay away from it as that will be an abnormal behavior from intraday trading perspective.

From trend follow-up perspective important closing rates are areas of 5938, 6014 and 6057.  Note: To know the strategies and directions to trade, maintain your portfolio at Shivani Financial. The analysis given is not trading signals but the market picture.

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