GBP/USD outlook

GBP/USD outlook: Intraday 7069-88 is key level. Targets below are 7041, 7023 and 6971. Above targets are 7109, 7127-35, 7153, 7178 and 7202-13. Today’s sensible range is 7069-7153/78. If gold stays below 1307 and EUR/USD stays below its key level of 3612-27, sensible range should be considered as 7023-7109. If USD/JPY remains above 101.46 and GBP/JPY remains above 173.58, positive momentum might be observed or vice versa. If EUR/GBP is trending above 7969 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 7041, 7097 and 7137. 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