GBP/USD
outlook: Intraday 7132-46 is key level. Targets below are 7113-01, 7071
and 7041-34. Above targets are 7158, 7188 and 7215-22. Today’s sensible
range is 7071-7146/58. If gold stays above 1320 and EUR/USD stays above its key level of 3594-3611, sensible range should be considered as 7113-7188. If USD/JPY remains above 101.92 and GBP/JPY remains above 174.78, positive momentum might be observed or vice versa. If EUR/GBP is trending above 7936 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 7188, 7146, 7104 and 7069. 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