GBP/USD outlook

GBP/USD outlook: Intraday 6657-72 is key level. Targets below are 6639-35, 6622-16, 6597, 6580, 6559 and 6545-33. Above targets are 6705, 6745, 6758, 6817 and 6852. Today’s sensible range is 6580-6705. If gold stays above 1335/39 and EUR/USD stays above its key level of 3732-46, sensible range should be considered as 6635-6758. If USD/JPY remains below 101.98 and GBP/JPY remains above 170.36 positive momentum might be observed or vice versa. If EUR/GBP is trending above 8241 and EUR/USD is in bullish mode, GBP/USD might remain under pressure or vice versa. 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 > or < areas of 6745, 6667 and 6635. 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.