GBP/USD outlook

GBP/USD outlook: Intraday 6649-67 is key level. Targets below are 6629, 6611, 6597-87, 6570, 6559 and 6545-36. Above targets are 6685-91, 6723, 6740, 6753 and 6780. Today’s sensible range is 6570-6685/91. If gold stays above 1291 and EUR/USD stays above its key level of 3765-89, sensible range should be considered as 6629-6723/40. If USD/JPY remains above 103.14 and GBP/JPY remains above 171.67 positive momentum might be observed or vice versa. If EUR/GBP is trending above 8274 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 6667, 6649, 6629 and 6592. 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.