Commodity Prices

Gold •463 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,668.00	-32.80	-1.93%
WTI Crude •11 mins	61.47	-1.08	-1.73%
Gasoline •11 mins	1.879	-0.031	-1.62%
Ethanol •463 days	2.161	+0.000	+0.00%
Silver •463 days	30.82	+1.16	+3.92%

Silver • 463 days	30.82	+1.16	+3.92%
Copper • 463 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	65.16	-1.09	-1.65%
Natural Gas • 11 mins	3.243	-0.090	-2.70%
Heating Oil • 12 mins	2.276	-0.015	-0.67%

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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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