Commodity Prices

Gold •298 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	970.90	-2.00	-0.21%
WTI Crude •10 mins	62.93	-0.09	-0.14%
Gasoline •24 mins	2.115	-0.004	-0.20%
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 • 12 mins	66.71	-0.16	-0.24%
Natural Gas • 48 mins	2.928	-0.009	-0.31%
Heating Oil • 46 mins	2.168	+0.001	+0.05%

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GBP/USD - Bearish Momentum

By - Feb 29, 2016, 5:58 AM CST

GBP/USD keeps on pushing lower. Hourly support lies at 1.3842 (intraday low) and hourly resistance is given at 1.4043 (26/02/2016 high). The technical structure suggests further decline. The road is wide open to stronger support at 1.3657 (11/03/2009 low).

The long-term technical pattern is negative and favours a further decline towards the key support at 1.3503 (23/01/2009 low), as long as prices remain below the resistance at 1.5340/64 (04/11/2015 low see also the 200 day moving average). However, the general oversold conditions and the recent pick-up in buying interest pave the way for a rebound.

Daily Technical Report