Commodity Prices

Gold •10 mins	2,329.80	-8.60	-0.37%
Platinum •10 mins	911.50	-4.30	-0.47%
WTI Crude •10 mins	82.87	+0.06	+0.07%
Gasoline •39 mins	2.736	+0.002	+0.05%
Ethanol •1 hour	2.161	+0.000	+0.00%
Silver •10 mins	27.21	-0.14	-0.52%

Silver • 10 mins	27.21	-0.14	-0.52%
Copper • 10 mins	4.479	-0.008	-0.18%
Brent Crude • 51 mins	88.08	-0.34	-0.38%
Natural Gas • 10 mins	1.670	+0.017	+1.03%
Heating Oil • 20 mins	2.555	+0.005	+0.21%

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GBP/USD: Making New Highs

By - Oct 01, 2013, 5:58 AM CDT

GBP/USD is moving above its resistance at 1.6179. Monitor the strong resistance area between 1.6302 and 1.6381. An initial support is at 1.6129 (intraday low). A key support stands at 1.5956.

In the longer term, prices are close to the strong resistance area between 1.6302 (30/04/2012 high) and 1.6381 (see also the longterm declining trendlines). Given the increasing overbought conditions, we would be mediumterm cautious on GBP/USD, as it has already priced in a lot of positive news.

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