Commodity Prices

Gold •15 mins	1,794.90	+1.40	+0.08%
Platinum •15 mins	839.40	+1.70	+0.20%
WTI Crude •11 mins	40.34	-0.29	-0.71%
Gasoline •15 mins	1.237	-0.004	-0.35%
Ethanol •7 hours	1.319	+0.024	+1.85%
Silver •15 mins	18.55	-0.03	-0.17%

Silver • 15 mins	18.55	-0.03	-0.17%
Copper • 15 mins	2.785	+0.011	+0.38%
Brent Crude • 11 mins	42.81	-0.29	-0.67%
Natural Gas • 10 mins	1.851	+0.021	+1.15%
Heating Oil • 11 mins	1.239	-0.002	-0.19%

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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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