Commodity Prices

Gold •650 days	2,368.70	+35.30	+1.51%
Platinum •19 mins	2,114.20	+9.90	+0.47%
WTI Crude •11 mins	91.47	+0.19	+0.21%
Gasoline •12 mins	3.038	-0.002	-0.05%
Ethanol •650 days	2.161	+0.000	+0.00%
Silver •650 days	30.82	+1.16	+3.92%

Silver • 650 days	30.82	+1.16	+3.92%
Copper • 650 days	4.530	+0.111	+2.51%
Brent Crude • 40 mins	94.79	-4.57	-4.60%
Natural Gas • 11 mins	2.592	-0.007	-0.27%
Heating Oil • 16 mins	3.649	+0.025	+0.68%

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GBP/USD - Strong Demand

By - Apr 27, 2017, 6:27 AM CDT

GBP/USD is consolidating lower after sharp bullish rally. Resistance at 1.2905 (18/04/2017 low) has been broken. The pair has exited the short-term bearish momentum. Hourly support can be found at 1.2757 (21/04/2017 low). A break of this support would indicate further 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