GBP/USD outlook

GBP/USD outlook: Intraday 6597-6622 is key level. Targets below are 6580-71, 6559, 6545-34, 6514-04 and 6477. Above targets are 6638-44, 6677, 6696, 6745-55 and 6821-54. Today’s sensible range is 6597-6696/6745. If gold stays below 1360 and EUR/USD stays below its key level of 3879-91, sensible range should be considered as 6559-6677. If USD/JPY remains below 102.38 and GBP/JPY remains above 170.84 positive momentum might be observed or vice versa. If EUR/GBP is trending above 8353 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, 6676, 6647 and 6597. 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.