Commodity Prices

Gold •362 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,370.10	+27.10	+2.02%
WTI Crude •11 mins	64.95	-0.16	-0.25%
Gasoline •5 hours	2.080	-0.010	-0.48%
Ethanol •362 days	2.161	+0.000	+0.00%
Silver •362 days	30.82	+1.16	+3.92%

Silver • 362 days	30.82	+1.16	+3.92%
Copper • 362 days	4.530	+0.111	+2.51%
Brent Crude • 5 hours	67.61	-0.16	-0.24%
Natural Gas • 10 mins	3.463	+0.007	+0.20%
Heating Oil • 5 hours	2.346	+0.039	+1.67%

Headlines

746 days Will The ECB Continue To Hike Rates?
747 days Forbes: Aramco Remains Largest Company In The Middle East
748 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,148 days Could Crypto Overtake Traditional Investment?
1,153 days Americans Still Quitting Jobs At Record Pace
1,155 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,158 days Is The Dollar Too Strong?
1,158 days Big Tech Disappoints Investors on Earnings Calls
1,159 days Fear And Celebration On Twitter as Musk Takes The Reins
1,161 days China Is Quietly Trying To Distance Itself From Russia
1,161 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,165 days Crypto Investors Won Big In 2021
1,165 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,166 days Food Prices Are Skyrocketing As Putin’s War Persists
1,168 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,169 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,172 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,173 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,173 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,175 days Are NFTs About To Take Over Gaming?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

More Info

Contact Author

GBP/USD: Bull-run Resuming

By - Feb 20, 2012, 6:05 AM CST

GBP/USD has extended the rebound from 1.5645 following bullish resolution to the hourly trend channel.

The pullback from the 1.5929 swing high was always seen as a correction of the larger advance from the 1.5235 January swing low, with the rebound from 1.5645 suggesting that the correction is complete.

While 1.5645 holds the risk is seen to the upside for an attack on 1.5916/29 (200-day moving average/swing high) ahead of psychological 1.6000 then overhead resistance at 1.6096/1.6167 as the next leg higher unfolds.

Loss of 1.5645 in the meantime would again risk a test of 1.5500/1.5582 (psychological/50% retrace) before a base can form, while settlement below 1.5500 would suggest that the 1.5235/1.5929 rally was a completed bear market bounce, shifting odds in favour of an attack on the 1.5235 swing low.

Daily Technical Report