Commodity Prices

Gold •356 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,316.30	+32.40	+2.52%
WTI Crude •10 mins	65.08	-3.43	-5.01%
Gasoline •10 mins	2.105	-0.113	-5.11%
Ethanol •356 days	2.161	+0.000	+0.00%
Silver •356 days	30.82	+1.16	+3.92%

Silver • 356 days	30.82	+1.16	+3.92%
Copper • 356 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	67.85	-3.63	-5.08%
Natural Gas • 10 mins	3.554	-0.144	-3.89%
Heating Oil • 11 mins	2.310	-0.053	-2.26%

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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.

Daily Technical Report