Commodity Prices

Gold •403 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,336.70	-2.90	-0.22%
WTI Crude •10 mins	63.76	-0.12	-0.19%
Gasoline •10 mins	2.068	-0.018	-0.85%
Ethanol •403 days	2.161	+0.000	+0.00%
Silver •403 days	30.82	+1.16	+3.92%

Silver • 403 days	30.82	+1.16	+3.92%
Copper • 403 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	66.45	-0.14	-0.21%
Natural Gas • 10 mins	2.954	-0.036	-1.20%
Heating Oil • 10 mins	2.265	-0.015	-0.65%

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GBP/USD - Declining Towards its Recent Lows

By - Oct 03, 2014, 5:48 AM CDT

GBP/USD continues to retrace the rebound that started from the low at 1.6052, as can be seen by the break of the hourly support at 1.6162. An initial resistance lies at 1.6176 (intraday high), while a more significant resistance stands at 1.6287.

In the longer term, the collapse in prices after having reached 4-year highs has created a strong resistance at 1.7192, which is unlikely to be broken in the coming months. We favour a medium-term consolidation phase with supports at 1.6052 and 1.5855 (12/11/2013 low) and a resistance at 1.6644.

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