Market Analysis
GBP/USD midweek: cable holding 1.3390 as traders remain split, 2026-06-08
Sterling trades up 59 pips from Monday's open at 1.3394, with positioning near perfectly balanced at Wednesday's close.
2 min leesSilver closed Tuesday at $64.848 and opened Wednesday at $64.849, down $3.21 or 4.7% from Monday's $68.154 open. The metal printed a week high of $68.992 on Tuesday before plunging to a low of $63.404 earlier today.
The sharp reversal from Tuesday's $68.99 high came as China set a stronger-than-expected dollar fixing, according to headlines from early Tuesday. This pressured precious metals across the board, with silver taking the brunt of the selling after testing the $69 resistance area.
Thursday brings US CPI data at 12:30 GMT, with headline inflation forecast to accelerate to 4.2% yearly from 3.8% previously. If CPI prints hot and silver holds below $65, the $63.40 low becomes vulnerable. If inflation surprises lower, resistance sits at Tuesday's $68.99 high. The ECB rate decision Thursday and UK GDP data Friday round out a packed calendar.
LHFX client positioning shows 62.6% of traders are long silver versus 37.4% short as of Wednesday morning. This long skew suggests retail remains bullish despite the sharp Tuesday selloff, potentially leaving room for further downside if support breaks.
Silver is consolidating between Wednesday's $63.404 low and the psychological $65 level after bouncing to $65.059 in early European trading. If $65 caps rallies ahead of tomorrow's CPI, the $63.40 low comes back into focus. A clean break above $65 would target the $66.13 Monday low as initial resistance. Trade silver CFDs with LHFX as volatility picks up into Thursday's inflation data.
Byline: LHFX Research
Risk disclaimer. CFD trading involves substantial risk and is not suitable for every investor. Leverage works both ways and can amplify losses beyond your initial deposit. The analysis above is general market commentary and does not constitute investment advice or a recommendation to buy or sell any instrument. LHFX is regulated by the FSC Mauritius and the FSCA in South Africa.
LHFX bestaan uit die volgende entiteite:
LHFX is 'n handelsnaam van Longhorn Ltd, 'n Mauritiuse maatskappy gemagtig en gereguleer deur die Financial Services Commission Mauritius onder die Investment Dealer-lisensienommer GB23202204, Kode SEC-2.1B. Kantooradres: Suite 102, 1ste Verdieping, Sterling Tower, 14 Poudriere Street, Port-Louis, Mauritius. GBC-nommer C200455
LHFX SA (PTY) Ltd is 'n gemagtigde Finansiëlediensverskaffer ("FSP") geregistreer en gereguleer deur die Finansiële Sektor Gedragsowerheid ("FSCA") van Suid-Afrika onder lisensienommer 52816. Geregistreerde adres: 1 Hood Avenue Rosebank Johannesburg Gauteng 2196
Longhorn Ltd bied nie Fiat-wisselkursdienste of Kriptogeldwisselkursdienste aan nie.
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RISIKAWAARSKUWING
Margehandel in buitelandse valuta, virtuele bates of ander buite-beurs-produkte op marge dra 'n hoë vlak van risiko en is moontlik nie vir almal geskik nie. Ons adviseer u om noukeurig te oorweeg of handel vir u gepas is in die lig van u persoonlike omstandighede.
CFD's is komplekse instrumente en dra 'n hoë risiko van geldverlies as gevolg van hefboom. Oorweeg of u verstaan hoe CFD's werk en of u die hoë risiko van geldverlies kan bekostig.
Belasting mag betaalbaar wees op enige winste en u behoort onafhanklike advies oor u belastingposisie in te win.