Commodity Prices

Gold •10 mins	1,506.20	-9.60	-0.63%
Platinum •10 mins	938.90	+4.30	+0.46%
WTI Crude •11 mins	58.64	+0.60	+1.03%
Gasoline •11 mins	1.666	+0.036	+2.23%
Ethanol •17 mins	1.372	-0.014	-1.01%
Silver •10 mins	17.85	-0.07	-0.41%

Silver • 10 mins	17.85	-0.07	-0.41%
Copper • 10 mins	2.608	-0.006	-0.21%
Brent Crude • 11 mins	63.70	+1.04	+1.66%
Natural Gas • 11 mins	2.578	-0.087	-3.26%
Heating Oil • 12 mins	2.007	+0.037	+1.85%

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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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