Commodity Prices

Gold •141 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	977.70	+7.20	+0.74%
WTI Crude •10 mins	70.64	+0.54	+0.77%
Gasoline •11 mins	2.069	+0.010	+0.46%
Ethanol •141 days	2.161	+0.000	+0.00%
Silver •141 days	30.82	+1.16	+3.92%

Silver • 141 days	30.82	+1.16	+3.92%
Copper • 141 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	74.78	+0.55	+0.74%
Natural Gas • 10 mins	3.383	+0.044	+1.32%
Heating Oil • 10 mins	2.294	+0.020	+0.86%

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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