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Gold •335 days	2,368.70	+35.30	+1.51%
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Gasoline •10 mins	2.072	-0.007	-0.35%
Ethanol •335 days	2.161	+0.000	+0.00%
Silver •335 days	30.82	+1.16	+3.92%

Silver • 335 days	30.82	+1.16	+3.92%
Copper • 335 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	65.65	+0.02	+0.03%
Natural Gas • 10 mins	3.678	-0.044	-1.18%
Heating Oil • 10 mins	2.099	-0.001	-0.03%

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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.

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