Commodity Prices

Gold •669 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	2,010.20	-1.70	-0.08%
WTI Crude •11 mins	101.80	-0.14	-0.14%
Gasoline •13 mins	3.598	+0.003	+0.09%
Ethanol •669 days	2.161	+0.000	+0.00%
Silver •669 days	30.82	+1.16	+3.92%

Silver • 669 days	30.82	+1.16	+3.92%
Copper • 669 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	108.28	+0.11	+0.10%
Natural Gas • 12 mins	2.828	+0.048	+1.73%
Heating Oil • 14 mins	3.936	-0.010	-0.26%

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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