GBP/USD
outlook: Intraday 7129-38 is key level. Targets below are 7098-87,
7069-62, 7041 and 6970. Above targets are 7160, 7178, 7199, 7210 and
7229. Today’s sensible range is 7098-7178/99. If gold stays above 1324 and EUR/USD stays above its key level of 3626-36, sensible range should be considered as 7069-7160. If USD/JPY remains above 101.67 and GBP/JPY remains above 174.17, positive momentum might be observed or vice versa. If EUR/GBP is trending above 7975 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 7178, 7135 and 7098. 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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