Commodity Prices

Gold •670 days	2,368.70	+35.30	+1.51%
Platinum •20 mins	1,975.60	+14.10	+0.72%
WTI Crude •11 mins	104.72	-1.70	-1.60%
Gasoline •11 mins	3.719	-0.019	-0.50%
Ethanol •670 days	2.161	+0.000	+0.00%
Silver •670 days	30.82	+1.16	+3.92%

Silver • 670 days	30.82	+1.16	+3.92%
Copper • 670 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	113.94	-0.50	-0.44%
Natural Gas • 11 mins	2.841	-0.026	-0.91%
Heating Oil • 11 mins	4.055	-0.018	-0.44%

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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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