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Gold •15 mins	1,427.00	+0.30	+0.02%
Platinum •15 mins	852.50	+0.40	+0.05%
Bitcoin •1 min	10,487.10	-86.79	-0.82%
WTI Crude •11 mins	56.19	+0.43	+0.77%
Gasoline •10 mins	1.796	+0.000	+0.02%
Silver •15 mins	16.36	+0.17	+1.02%

Silver • 15 mins	16.36	+0.17	+1.02%
Copper • 15 mins	2.737	-0.016	-0.56%
Ethereum • 1 min	221.84	-1.31	-0.59%
Brent Crude • 11 mins	63.10	+0.63	+1.01%
Natural Gas • 10 mins	2.265	+0.037	+1.66%

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GBP/USD - Riding the Uptrend Channel

By - Aug 26, 2015, 9:57 AM CDT

GBP/USD has shifted into a consolidation pattern after slight bullish recovery. However, drift lower indicates persistent selling pressure. Stronger support is given at the 38.2% Fibonacci retracement at 1.5409. Hourly resistance is given at 1.5803 (01/07/2015 high). The short-term structure shows an upside momentum.

In the longer term, the technical structure looks like a recovery bottom whose maximum upside potential is given by the strong resistance at 1.6189 (Fibo 61% entrancement).

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