Commodity Prices

Gold •532 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,975.50	+37.40	+1.93%
WTI Crude •11 mins	56.62	+0.68	+1.22%
Gasoline •11 mins	1.705	+0.010	+0.61%
Ethanol •532 days	2.161	+0.000	+0.00%
Silver •532 days	30.82	+1.16	+3.92%

Silver • 532 days	30.82	+1.16	+3.92%
Copper • 532 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	60.29	+0.61	+1.02%
Natural Gas • 12 mins	4.114	+0.090	+2.24%
Heating Oil • 11 mins	2.169	+0.020	+0.92%

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GBP/USD - Will it be Able to Make a Higher High?

By - Oct 22, 2014, 5:52 AM CDT

GBP/USD has bounced sharply near the key support at 1.5855. However, prices have thus far failed to invalidate their succession of lower highs. As a result, monitor the resistance at 1.6227. Hourly supports lie at 1.6030 (17/10/2014 low) and 1.5942 (16/10/2014 low). Another 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. Despite the recent short-term bearish momentum, we favour a temporary rebound near the support at 1.5855 (12/11/2013 low). A key resistance lies at 1.6525.

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