GBP/USD outlook

GBP/USD outlook: Intraday 6559-85 is key level. Targets below are 6532, 6506, 6475, 6461, 6448 and 6425-17. Above targets are 6618-23, 6639-45, 6667 and 6742. Today’s sensible range is 6506-6623. If gold stays above 1310 and EUR/USD stays above its key level of 3798-3807, sensible range should be considered as 6532-6645/67. If USD/JPY remains above 102.27 and GBP/JPY remains above 169.23 positive momentum might be observed or vice versa. If EUR/GBP is trending above 8318 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 6618, 6585, 6531, 6514 and 6466. 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.