Commodity Prices

Gold •10 mins	2,345.60	+3.10	+0.13%
Platinum •10 mins	922.30	+1.80	+0.20%
WTI Crude •10 mins	83.58	+0.01	+0.01%
Gasoline •10 mins	2.751	-0.007	-0.25%
Ethanol •18 hours	2.161	+0.000	+0.00%
Silver •10 mins	27.51	-0.12	-0.45%

Silver • 10 mins	27.51	-0.12	-0.45%
Copper • 10 mins	4.557	+0.018	+0.40%
Brent Crude • 10 mins	89.03	+0.02	+0.02%
Natural Gas • 12 mins	1.620	-0.018	-1.10%
Heating Oil • 10 mins	2.551	+0.001	+0.04%

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GBP/USD: New Highs are Bullish

By - Jul 02, 2014, 5:16 AM CDT

GBP/USD has broken the major resistance at 1.7043. A short-term bullish bias is favoured as long as the hourly support at 1.7007 (27/06/2014 low) holds. An initial support lies at 1.7096 (01/07/2014 low).

In the longer term, the break of the major resistance at 1.7043 (05/08/2009 high) calls for further strength. Resistances can be found at 1.7332 (see the 50% retracement of the 2008 decline) and 1.7447 (11/09/2008 low). A support lies at 1.6923 (18/06/2014 low).

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