Commodity Prices

Gold •530 days	2,368.70	+35.30	+1.51%
Platinum •20 mins	1,853.00	+37.10	+2.04%
WTI Crude •11 mins	56.48	-0.34	-0.60%
Gasoline •11 mins	1.722	-0.010	-0.58%
Ethanol •530 days	2.161	+0.000	+0.00%
Silver •530 days	30.82	+1.16	+3.92%

Silver • 530 days	30.82	+1.16	+3.92%
Copper • 530 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	60.20	-0.36	-0.59%
Natural Gas • 11 mins	4.002	-0.010	-0.25%
Heating Oil • 12 mins	2.172	-0.009	-0.39%

Headlines

915 days Will The ECB Continue To Hike Rates?
915 days Forbes: Aramco Remains Largest Company In The Middle East
917 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,316 days Could Crypto Overtake Traditional Investment?
1,321 days Americans Still Quitting Jobs At Record Pace
1,323 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,326 days Is The Dollar Too Strong?
1,326 days Big Tech Disappoints Investors on Earnings Calls
1,327 days Fear And Celebration On Twitter as Musk Takes The Reins
1,329 days China Is Quietly Trying To Distance Itself From Russia
1,329 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,333 days Crypto Investors Won Big In 2021
1,333 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,334 days Food Prices Are Skyrocketing As Putin’s War Persists
1,337 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,337 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,340 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,341 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,341 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,343 days Are NFTs About To Take Over Gaming?

The Biggest Challenge Facing West Africa's Single Currency Plan

The Economic Community of West…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

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: Surging Higher

By - Sep 16, 2013, 4:57 AM CDT

GBP/USD continues to move higher after the break of its strong resistance at 1.5752. The next resistances can be found at 1.6000 (psychological threshold) and 1.6179. The shortterm technical structure remains positive as long as the support at 1.5776 (12/09/2013 low) holds. An initial support lies at 1.5839 (intraday low).

It is interesting to note that the two previous rises (from 1.4814 to 1.5435 and from 1.5102 to 1.5718) have been roughly equal. A third equal rise would target 1.6050 (1.5429+0.0621)

In the longer term, prices are moving within a mild declining trend since April 2011. The break of the strong resistance at 1.5752 confirms an improving medium-term technical configuration. However, the increasing overbought conditions calls for caution.

Daily Technical Report