Commodity Prices

Gold •314 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	989.80	-2.40	-0.24%
WTI Crude •10 mins	63.25	-0.42	-0.66%
Gasoline •11 mins	2.159	-0.007	-0.32%
Ethanol •314 days	2.161	+0.000	+0.00%
Silver •314 days	30.82	+1.16	+3.92%

Silver • 314 days	30.82	+1.16	+3.92%
Copper • 314 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	66.19	-0.44	-0.66%
Natural Gas • 11 mins	3.604	-0.043	-1.18%
Heating Oil • 11 mins	2.171	-0.000	-0.01%

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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