Commodity Prices

Gold •302 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	977.40	+10.30	+1.07%
WTI Crude •10 mins	59.70	+0.46	+0.78%
Gasoline •11 mins	2.059	+0.010	+0.46%
Ethanol •302 days	2.161	+0.000	+0.00%
Silver •302 days	30.82	+1.16	+3.92%

Silver • 302 days	30.82	+1.16	+3.92%
Copper • 302 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	62.56	+0.43	+0.69%
Natural Gas • 10 mins	3.463	-0.016	-0.46%
Heating Oil • 10 mins	2.023	+0.011	+0.54%

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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