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Gold •14 mins	1,956.50	-27.30	-1.38%
Platinum •14 mins	985.20	-5.10	-0.51%
WTI Crude •11 mins	70.72	+1.46	+2.11%
Gasoline •14 mins	2.617	+0.029	+1.10%
Ethanol •2 days	2.161	+0.000	+0.00%
Silver •14 mins	23.18	-0.16	-0.68%

Silver • 14 mins	23.18	-0.16	-0.68%
Copper • 14 mins	4.067	-0.008	-0.20%
Brent Crude • 10 mins	76.47	+1.48	+1.97%
Natural Gas • 10 mins	2.094	-0.122	-5.51%
Heating Oil • 10 mins	2.734	+0.039	+1.45%

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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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