Commodity Prices

Gold •14 mins	2,392.50	+4.10	+0.17%
Platinum •14 mins	948.60	-5.60	-0.59%
WTI Crude •10 mins	82.53	-0.16	-0.19%
Gasoline •11 mins	2.704	-0.025	-0.91%
Ethanol •3 hours	2.161	+0.000	+0.00%
Silver •14 mins	28.29	-0.11	-0.39%

Silver • 14 mins	28.29	-0.11	-0.39%
Copper • 14 mins	4.431	+0.092	+2.11%
Brent Crude • 10 mins	86.90	-0.39	-0.45%
Natural Gas • 10 mins	1.744	+0.032	+1.87%
Heating Oil • 10 mins	2.532	-0.043	-1.66%

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GBP/USD: Making New Highs

By - Oct 01, 2013, 5:58 AM CDT

GBP/USD is moving above its resistance at 1.6179. Monitor the strong resistance area between 1.6302 and 1.6381. An initial support is at 1.6129 (intraday low). A key support stands at 1.5956.

In the longer term, prices are close to the strong resistance area between 1.6302 (30/04/2012 high) and 1.6381 (see also the longterm declining trendlines). Given the increasing overbought conditions, we would be mediumterm cautious on GBP/USD, as it has already priced in a lot of positive news.

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