Commodity Prices

Gold •298 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	988.10	+15.20	+1.56%
WTI Crude •10 mins	62.91	-0.11	-0.17%
Gasoline •16 mins	2.114	-0.005	-0.25%
Ethanol •298 days	2.161	+0.000	+0.00%
Silver •298 days	30.82	+1.16	+3.92%

Silver • 298 days	30.82	+1.16	+3.92%
Copper • 298 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	66.74	-0.13	-0.19%
Natural Gas • 19 mins	2.955	+0.018	+0.61%
Heating Oil • 15 mins	2.166	-0.002	-0.07%

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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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