Commodity Prices

Gold •15 mins	1,646.20	+3.70	+0.23%
Platinum •15 mins	905.50	-9.30	-1.02%
WTI Crude •10 mins	46.33	-0.76	-1.61%
Gasoline •11 mins	1.486	-0.035	-2.29%
Ethanol •1 hour	1.271	-0.029	-2.23%
Silver •15 mins	17.77	+0.04	+0.20%

Silver • 15 mins	17.77	+0.04	+0.20%
Copper • 15 mins	2.556	-0.016	-0.62%
Brent Crude • 15 mins	51.73	-1.08	-2.05%
Natural Gas • 10 mins	1.746	-0.006	-0.34%
Heating Oil • 10 mins	1.476	-0.012	-0.77%

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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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