Commodity Prices

Gold •10 mins	1,945.50	-0.10	-0.01%
Platinum •10 mins	930.70	-3.40	-0.36%
WTI Crude •10 mins	90.40	+0.37	+0.41%
Gasoline •1 hour	2.573	+0.011	+0.43%
Ethanol •2 days	2.161	+0.000	+0.00%
Silver •10 mins	23.89	+0.04	+0.17%

Silver • 10 mins	23.89	+0.04	+0.17%
Copper • 10 mins	3.688	-0.008	-0.22%
Brent Crude • 10 mins	93.78	+0.51	+0.55%
Natural Gas • 11 mins	2.622	-0.015	-0.57%
Heating Oil • 20 mins	3.334	+0.028	+0.83%

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GBP/USD - Bearish Breakout

By - Oct 26, 2016, 6:47 AM CDT

GBP/USD has exited symmetrical triangle. Hourly support is now given around 1.2135 (25/10/2016 low) while hourly resistance lies at 1.2332 (19/10/2016 high). Key resistance stands far away at 1.2620 then 1.2873 (03/10/2016). Expected to show continued weakness.

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