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Gold •194 days	2,368.70	+35.30	+1.51%
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Gasoline •10 mins	2.090	-0.010	-0.49%
Ethanol •194 days	2.161	+0.000	+0.00%
Silver •194 days	30.82	+1.16	+3.92%

Silver • 194 days	30.82	+1.16	+3.92%
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Brent Crude • 10 mins	80.40	-0.61	-0.75%
Natural Gas • 10 mins	3.780	-0.154	-3.91%
Heating Oil • 10 mins	2.505	-0.029	-1.14%

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GBP/USD Stalled at 200-day Moving Average

By - Feb 09, 2012, 7:02 AM CST

GBP/USD has rejected after the breach of the 1.5883 swing high stalled close to the the 200 day moving average at 1.5935.

Still, while 1.5730/1.5789 holds the risk is seen for an attack on psychological 1.6000 then overhead resistance at 1.6096/1.6167 as the 1.5235 swing extends.

Loss of 1.5730 would suggest completion of a top pattern, calling for a deeper correction of the 1.5235 advance back towards former resistance at 1.5670 and possibly 1.5533 before a base can form for fresh gains.

Settling below 1.5500 would suggest that the 1.5235 rally was a completed bear market bounce, shifting odds in favour of an attack on the 1.5235 swing low.

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