Commodity Prices

Gold •711 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,807.60	+95.40	+5.57%
WTI Crude •11 mins	80.28	-4.60	-5.42%
Gasoline •11 mins	2.963	-0.087	-2.85%
Ethanol •711 days	2.161	+0.000	+0.00%
Silver •711 days	30.82	+1.16	+3.92%

Silver • 711 days	30.82	+1.16	+3.92%
Copper • 711 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	83.08	-4.25	-4.87%
Natural Gas • 11 mins	3.095	-0.025	-0.80%
Heating Oil • 11 mins	3.298	-0.106	-3.13%

Headlines

1,096 days Will The ECB Continue To Hike Rates?
1,096 days Forbes: Aramco Remains Largest Company In The Middle East
1,098 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,498 days Could Crypto Overtake Traditional Investment?
1,503 days Americans Still Quitting Jobs At Record Pace
1,505 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,508 days Is The Dollar Too Strong?
1,508 days Big Tech Disappoints Investors on Earnings Calls
1,509 days Fear And Celebration On Twitter as Musk Takes The Reins
1,511 days China Is Quietly Trying To Distance Itself From Russia
1,511 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,515 days Crypto Investors Won Big In 2021
1,515 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,516 days Food Prices Are Skyrocketing As Putin’s War Persists
1,518 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,519 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,522 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,523 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,523 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,525 days Are NFTs About To Take Over Gaming?

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

More Info

Contact Author

GBP/USD - Monitoring Downtrend Channel

By - Aug 15, 2016, 6:49 AM CDT

GBP/USD still lies within a downtrend channel. The pair is trading below 1.3000 and the bearish momentum remains lively. Hourly resistance can be located at 1.3097 (08/08/2016 high). Expected to head towards support implied by the lower bound of the downtrend channel around 1.2900/20.

The long-term technical pattern is even more negative since the Brexit vote has paved the way for further decline. Long-term support given at 1.0520 (01/03/85) represents a decent target. Long-term resistance is given at 1.5018 (24/06/2015) and would indicate a long-term reversal in the negative trend. Yet, it is very unlikely at the moment.

Daily Technical Report