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Gold •795 days	2,368.70	+35.30	+1.51%
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Gasoline •11 mins	3.230	+0.016	+0.48%
Ethanol •795 days	2.161	+0.000	+0.00%
Silver •795 days	30.82	+1.16	+3.92%

Silver • 795 days	30.82	+1.16	+3.92%
Copper • 795 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	97.36	+1.08	+1.12%
Natural Gas • 11 mins	2.970	-0.005	-0.17%
Heating Oil • 11 mins	4.683	+0.142	+3.13%

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GBP/USD Trapped Bears Getting Squeezed

By - Apr 06, 2012, 7:41 AM CDT

GBP/USD accelerated higher after the failure to sustain the downside break of the 1.5645 support level, trapped bears fuelling a powerful short squeeze.

The velocity of the move/re-capture of 1.5834 suggests that an important reaction low has formed at 1.5603, setting the stage for a revival of the 1.5235 advance through 1.5993 for the 1.6167 reaction high initially.

Settlement back under 1.5700 from here would neutralise, while loss of 1.5603 would be negative risking a return towards 1.5500 initially in a deeper retracement of the 1.5235 advance.

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