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Shivani Financial GBP/USD short term bottom seems 5478-5383 and top 6210-42. Shivani Financial EUR/USD short term bottom seems 2580-2618 and top 3510. Shivani Financial USD seems to weaken this quarter with GBP target of 6330 and EUR of 3250 if talks of QE3 takes place and euro area resolution policies implemented without new story. Shivani FinancialGold has taken correction according to our forecast for it to go 1850 by August end.

Thursday, March 6, 2014

GBP/USD outlook



GBP/USD outlook: Intraday 6710-26 is key level. Targets below are 6680, 6667, 6649-39, 6622, 6597, 6580-70 and 6559. Above targets are 6745, 6789, 6825, 6837 and 6875. Today’s sensible range is 6680-6825. If gold stays below 1335/34 and EUR/USD stays below its key level of 3718-34, sensible range should be considered as 6622-6745. If USD/JPY remains below 102.22 and GBP/JPY remains above 170.94 positive momentum might be observed or vice versa. If EUR/GBP is trending above 8234 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, 6700, 6667 and 6639. 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.
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