Commodity Prices

Gold •202 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	972.00	+1.20	+0.12%
WTI Crude •10 mins	76.23	+0.40	+0.53%
Gasoline •14 mins	2.091	+0.006	+0.31%
Ethanol •202 days	2.161	+0.000	+0.00%
Silver •202 days	30.82	+1.16	+3.92%

Silver • 202 days	30.82	+1.16	+3.92%
Copper • 202 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	79.67	+0.38	+0.48%
Natural Gas • 10 mins	3.786	+0.030	+0.80%
Heating Oil • 10 mins	2.569	+0.011	+0.43%

Headlines

587 days Will The ECB Continue To Hike Rates?
587 days Forbes: Aramco Remains Largest Company In The Middle East
589 days Caltech Scientists Succesfully Beam Back Solar Power From Space
989 days Could Crypto Overtake Traditional Investment?
994 days Americans Still Quitting Jobs At Record Pace
996 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
999 days Is The Dollar Too Strong?
999 days Big Tech Disappoints Investors on Earnings Calls
1,000 days Fear And Celebration On Twitter as Musk Takes The Reins
1,001 days China Is Quietly Trying To Distance Itself From Russia
1,002 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,006 days Crypto Investors Won Big In 2021
1,006 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,007 days Food Prices Are Skyrocketing As Putin’s War Persists
1,009 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,010 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,013 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,014 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,014 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,016 days Are NFTs About To Take Over Gaming?

The Biggest Challenge Facing West Africa's Single Currency Plan

The Economic Community of West…

Wells Fargo Back In The Spotlight Over Personal Loan Cancellations

Wells Fargo has done it…

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 Recovering Well

By - Mar 09, 2012, 6:37 AM CST

GBP/USD found support at 1.5698 area after the breakdown from just shy of 1.6000.

While hourly resistance at 1.5883 caps we cannot rule out another downside probe an possible test of the reaction low at 1.5645, although strong support could provide a platform for a resumption of the 1.5235 advance.

Re-capture of 1.5883 would suggest that an important reaction low has formed, signalling a revival of the uptrend through 1.5993 for the 1.6167 reaction high initially.

Settlement below 1.5645 in the meantime would confirm a top pattern calling for a return towards 1.5500 in a deeper retracement of the 1.5235 advance.

Daily Technical Report