Silver Price Analysis

Expected Scenario

• Silver price faced strong negative pressure in the previous sessions.
• Breaking the 26.80$ level and reaching 26.30$ areas hinted a potential turn to decline.
• The price is recovering and testing the 26.80$ level now, motivated by stochastic current positivity.

Expected Outcome

The contradiction between the technical factors makes us prefer to stay aside until the price confirms its situation according to the mentioned level.

Breaching the 26.80$ level will reactivate the bullish trend scenario with the next main target located at 28.00$, while consolidating below it will push the price to suffer additional losses reaching 25.80$ followed by 25.50$.

Expected Trading Range

Between 26.60$ support and 27.25$ resistance.

Gold Price Analysis

Expected Scenario

• Gold price resumes its positive trading after the decline in previous sessions.
• Approaching the 2300.00$ barrier, waiting for more rise to surpass this level.
• Opening the way to head towards 2330.00$ as a next main target.

Expected Outcome

The EMA50 keeps supporting the suggested bullish wave.

Holding above 2265.00$ is important to achieve the waited targets.

Expected Trading Range

Between 2275.00$ support and 2315.00$ resistance.

GBPUSD Price Analysis

Expected Scenario

• The GBPUSD price fluctuates around the EMA50, forming good intraday support.
• Waiting to resume positive trades to test the 1.2700$ level as the first positive station.
• Breaching 1.2700$ represents the key to rally towards 1.2800$ as the next target.

Expected Outcome

We will continue to suggest the bullish trend for the upcoming period unless breaking 1.2625$ followed by 1.2580$ levels and holding below them.

Expected Trading Range

Between 1.2570$ support and 1.2730$ resistance.