Commodity Prices

Gold •462 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,697.80	+0.20	+0.01%
WTI Crude •11 mins	62.26	-0.29	-0.46%
Gasoline •11 mins	1.908	-0.001	-0.06%
Ethanol •462 days	2.161	+0.000	+0.00%
Silver •462 days	30.82	+1.16	+3.92%

Silver • 462 days	30.82	+1.16	+3.92%
Copper • 462 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	65.98	-0.27	-0.41%
Natural Gas • 11 mins	3.337	+0.004	+0.12%
Heating Oil • 11 mins	2.289	-0.002	-0.10%

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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