GBP/USD outlook

GBP/USD outlook: Intraday 6727-45 is key level. Targets below are 6714-03, 6684, 6667-53, 6644-35, 6622, 6597, 6580-70 and 6559. Above targets are 6764, 6781, 6828, 6875 and 6966. Today’s sensible range is 6635-6764/81. If gold stays above 1344 and EUR/USD stays above its key level of 3825-53, sensible range should be considered as 6703-6828. If USD/JPY remains below 102.81 and GBP/JPY remains above 172.42 positive momentum might be observed or vice versa. If EUR/GBP is trending above 8247 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 6828, 6745, 6703 and 6667. 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.