Commodity Prices

Gold •14 mins	2,337.60	-0.80	-0.03%
Platinum •14 mins	915.50	-0.30	-0.03%
WTI Crude •10 mins	82.84	+0.03	+0.04%
Gasoline •14 mins	2.744	+0.009	+0.34%
Ethanol •13 hours	2.161	+0.000	+0.00%
Silver •14 mins	27.39	+0.04	+0.14%

Silver • 14 mins	27.39	+0.04	+0.14%
Copper • 14 mins	4.547	+0.061	+1.35%
Brent Crude • 10 mins	88.06	+0.04	+0.05%
Natural Gas • 12 mins	1.649	-0.004	-0.24%
Heating Oil • 16 mins	2.567	+0.017	+0.67%

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GBP/USD: Surging Higher

By - Apr 09, 2014, 5:41 AM CDT

GBP/USD rose sharply higher yesterday, breaking the resistances at 1.6684 and 1.6718 (see also the declining trendline). Resistances can now be found at 1.6786 and 1.6823. The short-term bullish momentum is intact as long as the hourly support at 1.6684 (previous resistance) holds. Another support lies at 1.6556.

In the longer term, prices continue to move in a rising channel. As a result, a bullish bias remains favoured as long as the support at 1.6460 holds. A major resistance stands at 1.7043 (05/08/2009 high).

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