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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.

Wednesday, May 7, 2014

GBP/USD outlook

GBP/USD outlook: Intraday 6966-88 is key level. Targets below are 6942, 6914, 6876-66, 6842, 6819 and 6781. Above targets are 7023, 7041, 7069 and 7208. Today’s sensible range is 6866-6988. If gold stays above 1308 and EUR/USD stays above its key level of 3904-22, sensible range should be considered as 6942-7041/69. If USD/JPY remains above 101.95 and GBP/JPY remains above 172.54 positive momentum might be observed or vice versa. If EUR/GBP is trending above 8211 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 6955, 6913 and 6836. 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. #forex #forex_trading #gbpusd
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