Commodity Prices

Gold •441 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,375.80	-0.80	-0.06%
WTI Crude •11 mins	64.10	+0.05	+0.08%
Gasoline •21 mins	2.026	-0.002	-0.11%
Ethanol •441 days	2.161	+0.000	+0.00%
Silver •441 days	30.82	+1.16	+3.92%

Silver • 441 days	30.82	+1.16	+3.92%
Copper • 441 days	4.530	+0.111	+2.51%
Brent Crude • 2 hours	67.95	-0.52	-0.76%
Natural Gas • 12 mins	3.080	-0.020	-0.65%
Heating Oil • 27 mins	2.353	-0.002	-0.07%

Headlines

825 days Will The ECB Continue To Hike Rates?
826 days Forbes: Aramco Remains Largest Company In The Middle East
827 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,227 days Could Crypto Overtake Traditional Investment?
1,232 days Americans Still Quitting Jobs At Record Pace
1,234 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,237 days Is The Dollar Too Strong?
1,237 days Big Tech Disappoints Investors on Earnings Calls
1,238 days Fear And Celebration On Twitter as Musk Takes The Reins
1,240 days China Is Quietly Trying To Distance Itself From Russia
1,240 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,244 days Crypto Investors Won Big In 2021
1,244 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,245 days Food Prices Are Skyrocketing As Putin’s War Persists
1,247 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,248 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,251 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,252 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,252 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,254 days Are NFTs About To Take Over Gaming?

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Wells Fargo Back In The Spotlight Over Personal Loan Cancellations

Wells Fargo has done it…

Is The Bull Market On Its Last Legs?

This aging bull market may…

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