Midday update for Gold 18-07-2018

The GBPUSD pair keeps declining to reach the psychological barrier 1.3000, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, reminding you that our next main target is located at 1.2962, as the price falls under negative pressure coming by the EMA50, reminding you that the continuation of the expected decline depends on holding below 1.3226.

The EURUSD pair resumes its negative trading to approach 1.1600 barrier, which supports the continuation of our bearish overview for the rest of the day, reminding you that we are waiting to target 1.1554 followed by 1.1443 levels as next main stations, reminding you that the continuation of the expected decline conditions holding below 1.1705 and 1.1760 levels.

Copper price hinted keeping the bearish bias due to providing new negative closings below the initial resistance 2.8500, reminding you that it is important to break 2.7000 level to open the way to achieve more targets in the near term and medium term period by moving towards 2.6200 followed by reaching 61.8% Fibonacci correction level at 2.5500.