Commodity Prices

Gold •294 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	980.40	+0.80	+0.08%
WTI Crude •10 mins	63.26	+0.99	+1.59%
Gasoline •10 mins	2.103	+0.019	+0.89%
Ethanol •294 days	2.161	+0.000	+0.00%
Silver •294 days	30.82	+1.16	+3.92%

Silver • 294 days	30.82	+1.16	+3.92%
Copper • 294 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	66.98	+0.86	+1.30%
Natural Gas • 10 mins	2.934	-0.088	-2.91%
Heating Oil • 10 mins	2.146	+0.019	+0.89%

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GBP/USD - Bouncing

By - Oct 07, 2014, 5:32 AM CDT

GBP/USD is bouncing, as can be seen by the break of the initial resistance at 1.6052 (previous support). However, a break of the resistance at 1.6176 (intraday high) is needed to improve the short-term technical structure. Another resistance stands at 1.6287. Hourly supports can be found at 1.6027 (intraday low) and 1.5944.

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. Despite the current short-term bearish momentum, we favour a temporary rebound near the support at 1.5855 (12/11/2013 low). A resistance lies at 1.6525.

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