Commodity Prices

Gold •388 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,422.80	-17.70	-1.23%
WTI Crude •1 day	65.16	-0.87	-1.32%
Gasoline •1 day	2.097	-0.007	-0.34%
Ethanol •388 days	2.161	+0.000	+0.00%
Silver •388 days	30.82	+1.16	+3.92%

Silver • 388 days	30.82	+1.16	+3.92%
Copper • 388 days	4.530	+0.111	+2.51%
Brent Crude • 1 day	68.44	-0.74	-1.07%
Natural Gas • 1 day	3.110	+0.016	+0.52%
Heating Oil • 1 day	2.406	-0.007	-0.28%

Headlines

773 days Will The ECB Continue To Hike Rates?
773 days Forbes: Aramco Remains Largest Company In The Middle East
775 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,175 days Could Crypto Overtake Traditional Investment?
1,179 days Americans Still Quitting Jobs At Record Pace
1,181 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,184 days Is The Dollar Too Strong?
1,185 days Big Tech Disappoints Investors on Earnings Calls
1,186 days Fear And Celebration On Twitter as Musk Takes The Reins
1,187 days China Is Quietly Trying To Distance Itself From Russia
1,188 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,192 days Crypto Investors Won Big In 2021
1,192 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,193 days Food Prices Are Skyrocketing As Putin’s War Persists
1,195 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,195 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,199 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,199 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,200 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,202 days Are NFTs About To Take Over Gaming?

Is The Bull Market On Its Last Legs?

This aging bull market may…

The Biggest Challenge Facing West Africa's Single Currency Plan

The Economic Community of West…

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

More Info

Contact Author

GBP/USD - The Resistance at 1.6162 Has Been Broken

By - Oct 09, 2014, 5:33 AM CDT

GBP/USD has broken the resistance at 1.6176 (intraday high), which opens the way for a further short-term rise. Another resistance stands at 1.6287. An initial support lies at 1.6129 (07/10/2014 high), while an hourly support can be found at 1.6027 (07/10/2014 low).

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 recent 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.

Daily Technical Report