Commodity Prices

Gold •495 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,616.40	+15.90	+0.99%
WTI Crude •11 mins	60.49	+0.36	+0.60%
Gasoline •11 mins	1.979	+0.008	+0.39%
Ethanol •495 days	2.161	+0.000	+0.00%
Silver •495 days	30.82	+1.16	+3.92%

Silver • 495 days	30.82	+1.16	+3.92%
Copper • 495 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	64.48	+0.42	+0.66%
Natural Gas • 11 mins	4.313	-0.025	-0.58%
Heating Oil • 11 mins	2.529	+0.019	+0.74%

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GBP/USD: Sharp Bounce

By - Mar 15, 2013, 6:44 AM CDT

GBP/USD moved sharply higher yesterday. Resistances can be found at 1.5222 (28/02/2013 high) and 1.5321 (22/02/2013 high). Hourly supports are at 1.4958 (intraday high) and 1.4832 (12/03/2013 low).

In the longer-term, the break of the horizontal range defined by the strong support at 1.5235 (13/01/2012 low) and the strong resistance at 1.6302 (30/04/2012 high) calls for a medium-term decline towards 1.4231 (20/05/2012 low). A break of the resistance at 1.5321 is needed to negate this bearish outlook.

Daily Technical Report