GBP/USD is trading at 1.2893, 0.20% down since previous day close. For the third straight session, the GBP/USD pair is losing value; on Thursday morning during early European trading hours, it was trading at about 1.2890. Even with the positive UK PMI data, the risk-averse market environment prevents the GBP/USD pair from gaining momentum. A bearish or consolidating trend is indicated by the gravestone doji formed by the previous day’s candle. Resistance is at 1.2937, while the nearest support is at 1.2876.

GER30 is trading at 18127, 0.39% down since previous day close. DAX Index Opens Lower by 1.18%, Disappointing profits, weak PMIs for the euro area, and a surprise rate fall in China that heightened concerns about the health of the second-largest economy in the world are some of the factors contributing to the decline.  The market is currently trending lower than the 50-day moving average, which is negative. 18159 provides support, while 18521 is the nearest resistance.

XAG/USD is trading at 27.97, 3.00% down since previous day close. On Thursday, silver is still facing strong selling pressure for the second day in a row. Concerns about demand among top consumers midst the absence of tangible and robust policy initiatives to stimulate the economy and rejuvenate the real estate industry, China persisted in exerting pressure on silver prices. The closest support level is 27.68, and the closest resistance level is 28.95, making the market appear bearish today.