Midday update for Silver 21-10-2022

Gold price shows more decline to reach our waited target at 1615.00, and we expect the continuation of the bearish bias within the bearish channel that appears on the chart to test 1600.00$ per ounce barrier as a next station, to continue suggesting the bearish trend for the rest of the day, supported by the negative pressure formed by the EMA50, reminding you that it is important to hold below 1640.00 to continue the suggested decline.

The GBPUSD pair resumes its negative trades to support the continuation of the bearish trend for the rest of the day, reminding you that our main targets begin at 1.1055 and extend to 1.0920 as next main stations, supported by the negative pressure formed by the EMA50, while the price needs to hold below 1.1290 to continue the expected decline.

The EURUSD pair settles below 0.9790 level, to keep the bearish trend active for today, supported by moving below the EMA50, waiting for additional negative trades in the upcoming sessions to achieve our targets that start at 0.9700 and extend to 0.9630.