Commodity Prices

Gold •10 mins	2,347.20	+4.70	+0.20%
Platinum •10 mins	922.10	+1.60	+0.17%
WTI Crude •20 hours	83.85	+0.28	+0.34%
Gasoline •20 hours	2.765	+0.006	+0.23%
Ethanol •18 hours	2.161	+0.000	+0.00%
Silver •10 mins	27.54	-0.10	-0.35%

Silver • 10 mins	27.54	-0.10	-0.35%
Copper • 10 mins	4.574	+0.036	+0.78%
Brent Crude • 19 hours	89.50	+0.49	+0.55%
Natural Gas • 20 hours	1.614	-0.024	-1.47%
Heating Oil • 20 hours	2.548	-0.002	-0.09%

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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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