Commodity Prices

Gold •638 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,983.20	-6.50	-0.33%
WTI Crude •10 hours	111.54	+11.42	+11.41%
Gasoline •10 hours	3.288	+0.197	+6.36%
Ethanol •638 days	2.161	+0.000	+0.00%
Silver •638 days	30.82	+1.16	+3.92%

Silver • 638 days	30.82	+1.16	+3.92%
Copper • 638 days	4.530	+0.111	+2.51%
Brent Crude • 9 hours	109.03	+7.87	+7.78%
Natural Gas • 10 hours	2.800	-0.019	-0.67%
Heating Oil • 10 hours	4.361	+0.304	+7.50%

Headlines

1,023 days Will The ECB Continue To Hike Rates?
1,023 days Forbes: Aramco Remains Largest Company In The Middle East
1,025 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,425 days Could Crypto Overtake Traditional Investment?
1,429 days Americans Still Quitting Jobs At Record Pace
1,431 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,434 days Is The Dollar Too Strong?
1,435 days Big Tech Disappoints Investors on Earnings Calls
1,436 days Fear And Celebration On Twitter as Musk Takes The Reins
1,437 days China Is Quietly Trying To Distance Itself From Russia
1,438 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,442 days Crypto Investors Won Big In 2021
1,442 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,443 days Food Prices Are Skyrocketing As Putin’s War Persists
1,445 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,445 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,449 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,449 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,449 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,452 days Are NFTs About To Take Over Gaming?

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Wells Fargo Back In The Spotlight Over Personal Loan Cancellations

Wells Fargo has done it…

The Biggest Challenge Facing West Africa's Single Currency Plan

The Economic Community of West…

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 Approaching Strong Support

By - May 11, 2012, 5:54 AM CDT

GBP/USD is showing early signs of basing on the approach to the old swing high at 1.6063 as the pullback from 1.6302 stalls.

While we could see further choppy activity over the short-term the overall tone remains positive and we look for 1.6063 to more or less contain current weakness prior to basing for an extension of the 1.5235 advance.

Re-capture of 1.6199 would suggest completion of the correction, setting the stage for an attack on 1.6302 then 1.6500/1.6618 (psychological/August reaction high) as the bull run extends.

Settlement back below 1.6063 from here would suggest stalling upside momentum, while loss of 1.5805 would threaten key support at 1.5603 (12th March low) in a much deeper retracement of the 1.5235 advance.

Daily Technical Report