GBP/USD outlook

GBP/USD outlook: Intraday 6626-44 is key level. Targets below are 6597, 6585-80, 6559-52, 6533-23 and 6514. Above targets are 6661-69, 6687, 6717, 6745 and 6784. Today’s sensible range is 6626-6717/45. If gold stays below 1380 and EUR/USD stays below its key level of 3885-96, sensible range should be considered as 6580-6669. If USD/JPY remains below 101.47 and GBP/JPY remains above 168.66 positive momentum might be observed or vice versa. If EUR/GBP is trending above 8350 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, 6627 and 6590. 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.