Commodity Prices

Gold •819 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,720.30	+1.40	+0.08%
WTI Crude •11 mins	90.12	-0.30	-0.33%
Gasoline •11 mins	3.265	+0.004	+0.13%
Ethanol •819 days	2.161	+0.000	+0.00%
Silver •819 days	30.82	+1.16	+3.92%

Silver • 819 days	30.82	+1.16	+3.92%
Copper • 819 days	4.530	+0.111	+2.51%
Brent Crude • 45 mins	98.03	+1.87	+1.94%
Natural Gas • 11 mins	3.008	-0.018	-0.59%
Heating Oil • 2 hours	4.957	+0.059	+1.20%

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GBP/USD - Rouge Collapse

By - Oct 07, 2016, 6:46 AM CDT

GBP/USD has collapsed in Asia trading, with reports of 1.14 lows but is now consolidating around the 1.2424 handle. Resistance is located at 1.2620 (declining trendline) then 1.2873 (03/10/2016). Support base is now building at 1.2354. Expected to show continued downside pressures.

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.

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