Commodity Prices

Gold •356 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,318.40	+34.50	+2.69%
WTI Crude •15 mins	64.37	-4.14	-6.04%
Gasoline •15 mins	2.086	-0.133	-5.97%
Ethanol •356 days	2.161	+0.000	+0.00%
Silver •356 days	30.82	+1.16	+3.92%

Silver • 356 days	30.82	+1.16	+3.92%
Copper • 356 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	67.82	-3.66	-5.12%
Natural Gas • 15 mins	3.537	-0.161	-4.35%
Heating Oil • 17 mins	2.285	-0.078	-3.30%

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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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