Commodity Prices

Gold •235 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	989.90	+2.20	+0.22%
WTI Crude •11 mins	70.27	-0.13	-0.18%
Gasoline •46 mins	2.026	-0.001	-0.05%
Ethanol •235 days	2.161	+0.000	+0.00%
Silver •235 days	30.82	+1.16	+3.92%

Silver • 235 days	30.82	+1.16	+3.92%
Copper • 235 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	74.39	-0.04	-0.05%
Natural Gas • 10 mins	4.025	-0.209	-4.94%
Heating Oil • 14 mins	2.423	-0.010	-0.39%

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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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