GBP/USD outlook

GBP/USD outlook: Intraday 6621-49 is key level. Targets below are 6597-86, 6565-59, 6545-34, 6514-05 and 6475. Above targets are 6659-67, 6685-91, 6745, 6784 and 6821-46. Today’s sensible range is 6586-6691/6745. If gold stays below 1369 and EUR/USD stays below its key level of 3842-72, sensible range should be considered as 6559-6659/67. If USD/JPY remains below 102.06 and GBP/JPY remains above 168.69 positive momentum might be observed or vice versa. If EUR/GBP is trending above 8345 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, 6668, 6635 and 6589. 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.