Commodity Prices

Gold •299 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	993.90	-1.30	-0.13%
WTI Crude •11 mins	62.00	-0.05	-0.08%
Gasoline •24 mins	2.107	+0.001	+0.04%
Ethanol •299 days	2.161	+0.000	+0.00%
Silver •299 days	30.82	+1.16	+3.92%

Silver • 299 days	30.82	+1.16	+3.92%
Copper • 299 days	4.530	+0.111	+2.51%
Brent Crude • 2 hours	65.86	-1.01	-1.51%
Natural Gas • 5 hours	3.170	+0.233	+7.93%
Heating Oil • 49 mins	2.178	+0.003	+0.13%

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GBP/USD: Surging Higher

By - Apr 09, 2014, 5:41 AM CDT

GBP/USD rose sharply higher yesterday, breaking the resistances at 1.6684 and 1.6718 (see also the declining trendline). Resistances can now be found at 1.6786 and 1.6823. The short-term bullish momentum is intact as long as the hourly support at 1.6684 (previous resistance) holds. Another support lies at 1.6556.

In the longer term, prices continue to move in a rising channel. As a result, a bullish bias remains favoured as long as the support at 1.6460 holds. A major resistance stands at 1.7043 (05/08/2009 high).

Daily Technical Report