Commodity Prices

Gold •693 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,895.80	-32.20	-1.67%
WTI Crude •10 mins	91.72	+3.04	+3.43%
Gasoline •2 hours	3.202	+0.068	+2.18%
Ethanol •693 days	2.161	+0.000	+0.00%
Silver •693 days	30.82	+1.16	+3.92%

Silver • 693 days	30.82	+1.16	+3.92%
Copper • 693 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	97.34	+3.05	+3.23%
Natural Gas • 11 mins	3.073	-0.022	-0.71%
Heating Oil • 18 mins	3.667	+0.069	+1.93%

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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.

Daily Technical Report