Commodity Prices

Gold •523 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,657.60	-2.80	-0.17%
WTI Crude •11 mins	59.02	+0.14	+0.24%
Gasoline •11 mins	1.805	+0.007	+0.37%
Ethanol •523 days	2.161	+0.000	+0.00%
Silver •523 days	30.82	+1.16	+3.92%

Silver • 523 days	30.82	+1.16	+3.92%
Copper • 523 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	62.64	+0.15	+0.24%
Natural Gas • 11 mins	4.841	-0.071	-1.45%
Heating Oil • 11 mins	2.301	+0.003	+0.14%

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GBPUSD - New Highs are Bullish

By - Jun 20, 2016, 6:29 AM CDT

GBP/USD surged to 1.4662, clearing solid supply regions. has broken the resistance at 1.4597 (07/06/2016 reaction high), confirming the underlying bullish trend. Resistance is given at 1.4735 (26/05/2016 high) and a stronger one is located at 1.4762 (03/05/2016 high). Hourly support can be located at 1.4430 (gap open high). Expected to confirm deeper selling pressures as gaps are closed.

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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