Commodity Prices

Gold •294 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	975.10	-4.50	-0.46%
WTI Crude •10 mins	62.23	-0.04	-0.06%
Gasoline •1 hour	2.082	-0.002	-0.09%
Ethanol •294 days	2.161	+0.000	+0.00%
Silver •294 days	30.82	+1.16	+3.92%

Silver • 294 days	30.82	+1.16	+3.92%
Copper • 294 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	66.09	-0.03	-0.05%
Natural Gas • 11 mins	2.990	-0.032	-1.06%
Heating Oil • 2 hours	2.131	+0.004	+0.18%

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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.

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