Midday update for Silver 11-01-2021

Gold price shows positive trades to breach 1838.10 and attempts to hold above it, which urges caution from the upcoming trading, as holding with a daily close above this level will stop the morning suggested negative scenario and leads the price to achieve intraday gains that start at 1882.00 followed by 1918.00.

The GBPUSD pair shows new bearish bias to approach gradually from our first waited negative target at 1.3430, and the negative effect of the triple top pattern still active, which supports the chances of continuing the decline towards the second target at 1.3380, to continue suggesting the bearish trend in the upcoming sessions unless the price rallied to breach 1.3550 and hold above it.

The EURUSD pair begins attempts to break 1.2173 level, which supports the continuation of our bearish overview efficiently for the rest of the day, paving the way to head towards our next correctional target that reaches 1.2064, noting that the continuation of the bearish wave requires holding below 1.2173.