Commodity Prices

Gold •273 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	984.20	-11.00	-1.11%
WTI Crude •10 mins	69.47	-2.24	-3.12%
Gasoline •10 mins	2.232	-0.099	-4.23%
Ethanol •273 days	2.161	+0.000	+0.00%
Silver •273 days	30.82	+1.16	+3.92%

Silver • 273 days	30.82	+1.16	+3.92%
Copper • 273 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	72.73	-2.22	-2.96%
Natural Gas • 10 mins	4.022	-0.033	-0.81%
Heating Oil • 10 mins	2.231	-0.091	-3.91%

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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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