Sterling Crushed by Double-Contraction GDP – EURGBP Spikes, Next Stop 0.8850–0.8900 
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FxWirePro: GBP/NZD gains some upside momentum but still bearish 
FxWirePro- Major European Indices 
FxWirePro: GBP/USD dips on UK GDP data miss 
FxWirePro- Major Pair levels and bias summary 
FxWirePro: USD/JPY caught in narrow range, bias bearish 
FxWirePro: GBP/AUD gives up early gains after UK GDP shock 
FxWirePro- Major European Indices 
NZDJPY Poised to Pop: Buy-the-Dip Setup Above Key 90 Support 
FxWirePro: EUR/AUD moves higher following downbeat Australian jobs report 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro: USD/CAD recovers slightly but trend is still bearish 
FxWirePro: GBP/NZD ticks down after UK GDP data disappoints 
AUDJPY Range Play: Hold 102.95 Support, Target 105 on Breakout 
UK GDP Flops Again: GBPJPY Drops to 207.22 But Bulls Hold the Line – Buy the Dip to 210? 
- XAG/USD is currently trading around $17.65 marks.
- It made intraday high at $17.74 and low at $17.56 levels.
- Intraday bias remains bearish till the time pair holds initial resistance at $17.88 marks.
- A sustained close above $17.89 tests key resistances at $17.99, $18.17 and $18.29 marks respectively.
- On the other side, a daily close below $17.60 will take the parity down towards key supports at $17.45, $17.32, $17.11, $17.02, 16.95 and $16.88 marks respectively.
- Important to note here that in a daily chart, 20D, 30D and 55D EMA heads up and confirms the bullish trend. Current downside movement is short term trend correction only.
- Later today, U.S. will release final GDP data as well as CB consumer confidence data. This will provide further directions to the parity.
We prefer to take short position in XAG/USD only below $17.65, stop loss at $17.78 and target $17.45/ $17.37 marks.
