Commodity Prices

Gold •701 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,800.60	-99.30	-5.23%
WTI Crude •11 mins	90.57	-2.47	-2.65%
Gasoline •11 mins	3.054	+0.016	+0.52%
Ethanol •701 days	2.161	+0.000	+0.00%
Silver •701 days	30.82	+1.16	+3.92%

Silver • 701 days	30.82	+1.16	+3.92%
Copper • 701 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	93.30	-1.73	-1.82%
Natural Gas • 11 mins	3.233	-0.103	-3.09%
Heating Oil • 10 mins	3.607	-0.067	-1.82%

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GBP/USD - Resistance Expected Close To 1.6000

By - Mar 02, 2012, 6:05 AM CST

GBP/USD has broken over the 200 day moving average and trend-line resistance off 1.6167. However, structure present since 1.5649 suggests that the 1.6000 region should act as strong resistance, with scope then for a fresh swing back down to 1.5700/50.

The 1.6000 region also lies close to the 50 week moving average, which acted as a region of resistance at the end of last year.

Loss of the reaction/swing low at 1.5645 would confirm a top pattern calling for a return to 1.5500/1.5582 (psychological/50% retracement) in a deeper retracement of the 1.5235 advance.

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