Midday update for Silver 18-07-2018

Gold price shows more decline to press on the bearish channel’s support line that appears on the chart, which supports the continuation of the bearish trend on the intraday and short term basis, which its next main target located at 1204.80, noting that the expected decline depends on holding below 1243.00.

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.