Commodity Prices

Gold •274 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	915.70	-40.90	-4.28%
WTI Crude •10 mins	61.89	-5.06	-7.56%
Gasoline •10 mins	2.050	-0.114	-5.26%
Ethanol •275 days	2.161	+0.000	+0.00%
Silver •274 days	30.82	+1.16	+3.92%

Silver • 274 days	30.82	+1.16	+3.92%
Copper • 274 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	65.50	-4.64	-6.62%
Natural Gas • 10 mins	3.864	-0.274	-6.62%
Heating Oil • 10 mins	2.082	-0.107	-4.87%

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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