Commodity Prices

Gold •646 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	2,065.20	-46.90	-2.22%
WTI Crude •8 hours	95.81	-2.06	-2.10%
Gasoline •8 hours	3.016	+0.015	+0.51%
Ethanol •646 days	2.161	+0.000	+0.00%
Silver •646 days	30.82	+1.16	+3.92%

Silver • 646 days	30.82	+1.16	+3.92%
Copper • 646 days	4.530	+0.111	+2.51%
Brent Crude • 7 hours	95.20	-0.72	-0.75%
Natural Gas • 8 hours	2.652	-0.018	-0.67%
Heating Oil • 8 hours	3.745	-0.192	-4.87%

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GBP/USD: New Highs are Bullish

By - Jul 02, 2014, 5:16 AM CDT

GBP/USD has broken the major resistance at 1.7043. A short-term bullish bias is favoured as long as the hourly support at 1.7007 (27/06/2014 low) holds. An initial support lies at 1.7096 (01/07/2014 low).

In the longer term, the break of the major resistance at 1.7043 (05/08/2009 high) calls for further strength. Resistances can be found at 1.7332 (see the 50% retracement of the 2008 decline) and 1.7447 (11/09/2008 low). A support lies at 1.6923 (18/06/2014 low).

Daily Technical Report