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Published: 21 July 2026,06:50
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XAGUSD, H4:
Silver is showing early signs of a bullish trend reversal after breaking above its week-long descending trendline resistance. The breakout suggests that the recent selling pressure is easing and that buyers are beginning to regain control of the market.
Momentum indicators are also turning increasingly supportive of the bullish outlook. The Relative Strength Index (RSI) has crossed above the 50 midline, indicating that bullish momentum is strengthening. Meanwhile, the Moving Average Convergence Divergence (MACD) is advancing toward the zero line from below, suggesting that positive momentum is building and reinforcing the potential for further upside.
Provided that silver can hold above the former downtrend resistance, which has now become a support level, the breakout is likely to remain valid. This would strengthen the case for a continuation of the recovery and shift the near-term technical bias in favor of the bulls.
The next major upside target lies at $61.60, where silver is expected to encounter its next key resistance. A sustained move above this level would further confirm the bullish reversal and pave the way for additional gains.
Resistance Levels: 61.60, 65.30
Support Levels:56.70, 52.80
EURGBP, H4
EUR/GBP has been trading within a well-defined descending channel since peaking in June, with the pair declining by more than 2.5% over the period. The series of lower highs and lower lows continues to reinforce the prevailing bearish trend.
The latest price action shows EUR/GBP approaching the upper boundary of the descending channel, a key technical resistance that is likely to determine the pair’s next directional move. This area has repeatedly capped previous recovery attempts and is expected to attract renewed selling interest.
Should the pair be rejected at the upper boundary of the channel, it would reinforce the existing bearish structure and increase the likelihood of another leg lower, keeping the pair firmly within its current downtrend.
However, a decisive breakout above the channel resistance near 0.8510 would invalidate the immediate bearish setup and signal the potential for a technical recovery. Such a move would indicate that buying momentum is strengthening and could pave the way for a broader rebound in the near term.
Resistance Levels: 0.8510, 0.8561
Support Levels:0.8448, 0.8377
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