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Gold •101 days	2,368.70	+35.30	+1.51%
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WTI Crude •1 day	75.56	-0.29	-0.38%
Gasoline •1 day	2.152	+0.001	+0.03%
Ethanol •101 days	2.161	+0.000	+0.00%
Silver •101 days	30.82	+1.16	+3.92%

Silver • 101 days	30.82	+1.16	+3.92%
Copper • 101 days	4.530	+0.111	+2.51%
Brent Crude • 1 day	79.04	-0.36	-0.45%
Natural Gas • 1 day	2.632	-0.043	-1.61%
Heating Oil • 1 day	2.344	-0.007	-0.30%

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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