Commodity Prices

Gold •673 days	2,368.70	+35.30	+1.51%
Platinum •20 mins	2,054.10	-8.20	-0.40%
WTI Crude •11 mins	94.89	+0.08	+0.08%
Gasoline •11 mins	3.444	-0.012	-0.34%
Ethanol •673 days	2.161	+0.000	+0.00%
Silver •673 days	30.82	+1.16	+3.92%

Silver • 673 days	30.82	+1.16	+3.92%
Copper • 673 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	100.52	+0.46	+0.46%
Natural Gas • 10 mins	2.827	+0.058	+2.09%
Heating Oil • 11 mins	3.864	+0.048	+1.25%

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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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