Midday update for Gold 17-12-2019

The GBPUSD pair declined strongly to reach the thresholds of the waited negative target at 1.3135, as the price is affected by the double top pattern mentioned this morning, noting that we need to monitor the price behavior in the upcoming sessions, as the continuation of the negative pressure and breaking the mentioned level will push the price to start correctional bearish wave on the short term basis, while holding against the current negative pressure will lead the price to resume trading in the bullish channel that appears on the chart.

The EURUSD pair begins to provide positive trades now in attempt to resume the expected bullish trend for today, to keep the positive scenario active in the upcoming sessions, supported by the EMA50, reminding you that our targets begin at 1.1180 and extend to 1.1280 after breaching the previous level, while holding above 1.1108 represents key condition to achieve the suggested targets.

Copper price continued facing stochastic negativity by providing repeated positive closes above 2.7500 level, to reinforce the suggested bullish track, by the above image, we notice that the price began forming a new bullish wave, to increase the chances for recording the target at 2.8380, reminding you that surpassing this barrier will ease the mission of reaching the second station at 2.9200 level.