Commodity Prices

Gold •474 days	2,368.70	+35.30	+1.51%
Platinum •20 mins	1,527.10	-125.10	-7.57%
WTI Crude •18 mins	57.97	+0.45	+0.78%
Gasoline •11 mins	1.827	-0.003	-0.19%
Ethanol •474 days	2.161	+0.000	+0.00%
Silver •474 days	30.82	+1.16	+3.92%

Silver • 474 days	30.82	+1.16	+3.92%
Copper • 474 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	61.52	+0.51	+0.84%
Natural Gas • 11 mins	3.438	+0.041	+1.21%
Heating Oil • 11 mins	2.206	+0.014	+0.63%

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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