Commodity Prices

Gold •495 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,598.70	-1.80	-0.11%
WTI Crude •11 mins	59.88	-0.25	-0.42%
Gasoline •11 mins	1.958	-0.013	-0.65%
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	63.82	-0.24	-0.37%
Natural Gas • 13 mins	4.381	+0.043	+0.99%
Heating Oil • 11 mins	2.488	-0.022	-0.88%

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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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