Commodity Prices

Gold •377 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,413.10	-4.90	-0.35%
WTI Crude •10 mins	66.74	-0.24	-0.36%
Gasoline •10 mins	2.172	+0.007	+0.32%
Ethanol •377 days	2.161	+0.000	+0.00%
Silver •377 days	30.82	+1.16	+3.92%

Silver • 377 days	30.82	+1.16	+3.92%
Copper • 377 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	68.86	-0.35	-0.51%
Natural Gas • 10 mins	3.521	+0.055	+1.59%
Heating Oil • 10 mins	2.407	+0.017	+0.72%

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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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