Commodity Prices

Gold •229 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,014.10	-5.10	-0.50%
WTI Crude •10 mins	71.95	+1.21	+1.71%
Gasoline •11 mins	2.114	+0.024	+1.16%
Ethanol •229 days	2.161	+0.000	+0.00%
Silver •229 days	30.82	+1.16	+3.92%

Silver • 229 days	30.82	+1.16	+3.92%
Copper • 229 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	75.94	+0.72	+0.96%
Natural Gas • 10 mins	3.602	-0.123	-3.30%
Heating Oil • 10 mins	2.479	+0.017	+0.69%

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GBP/USD - Short-Term Retracement

By - May 30, 2016, 7:11 AM CDT

GBP/USD is still bouncing back from 1.4700. The pair has failed to reach hourly resistance at 1.4770 (03/05/2016 high). Hourly support is given by the lower bound of the uptrend channel and by 1.4404 (15/05/2016 low). Expected to show renewed bullish momentum toward resistance at 1.4770.

The long-term technical pattern is negative and favours a further decline towards 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.

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