Midday update for Silver 08-10-2021

Gold price continues to fluctuate around the EMA50, and as long as the price is below 1770.00, our bearish overview will remain valid for today, organized inside the bearish channel, reminding you that we are waiting to visit 1735.00 initially, which breaking it represents the key to rally towards 1692.00 as a next main target.

The GBPUSD pair faces negative pressure now to attack 1.3600 level, which urges caution from the upcoming trading, as breaking this level followed by breaking 1.3555 will stop the suggested positive scenario and put the price under the negative pressure again, while the price needs to step above 1.3600 to regain the bullish trend that targets 1.3660 followed by 1.3720 as next main stations.

The EURUSD pair didn’t show any strong move since morning, waiting the release of the economic data from the USA, which might cause mixed trades at the markets.