Commodity Prices

Gold •348 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,255.70	+2.50	+0.20%
WTI Crude •10 mins	73.35	+1.58	+2.20%
Gasoline •10 mins	2.257	+0.037	+1.66%
Ethanol •348 days	2.161	+0.000	+0.00%
Silver •348 days	30.82	+1.16	+3.92%

Silver • 348 days	30.82	+1.16	+3.92%
Copper • 348 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	75.08	+1.85	+2.53%
Natural Gas • 10 mins	3.827	+0.079	+2.11%
Heating Oil • 10 mins	2.465	+0.072	+3.00%

Headlines

733 days Will The ECB Continue To Hike Rates?
733 days Forbes: Aramco Remains Largest Company In The Middle East
735 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,135 days Could Crypto Overtake Traditional Investment?
1,140 days Americans Still Quitting Jobs At Record Pace
1,142 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,145 days Is The Dollar Too Strong?
1,145 days Big Tech Disappoints Investors on Earnings Calls
1,146 days Fear And Celebration On Twitter as Musk Takes The Reins
1,148 days China Is Quietly Trying To Distance Itself From Russia
1,148 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,152 days Crypto Investors Won Big In 2021
1,152 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,153 days Food Prices Are Skyrocketing As Putin’s War Persists
1,155 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,156 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,159 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,160 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,160 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,162 days Are NFTs About To Take Over Gaming?

The Biggest Challenge Facing West Africa's Single Currency Plan

The Economic Community of West…

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

More Info

Contact Author

GBP/USD - Targeting Support At 1.2083

By - Jan 10, 2017, 7:22 AM CST

GBP/USD has reversed after false break out of recent bearish channel. Hourly support lies at 1.2083 (25/10/2016 low) while hourly resistance lies at 1.2268 (intraday high). The technical structure suggests further downside.

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