Commodity Prices

Gold •844 days	2,368.70	+35.30	+1.51%
Platinum •20 mins	1,544.50	-17.90	-1.15%
WTI Crude •11 mins	101.94	-1.33	-1.29%
Gasoline •13 mins	3.240	+0.028	+0.87%
Ethanol •845 days	2.161	+0.000	+0.00%
Silver •844 days	30.82	+1.16	+3.92%

Silver • 844 days	30.82	+1.16	+3.92%
Copper • 844 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	115.92	-0.80	-0.69%
Natural Gas • 11 mins	2.619	-0.021	-0.80%
Heating Oil • 11 mins	4.946	-0.039	-0.77%

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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.

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