Commodity Prices

Gold •15 mins	2,393.70	-4.30	-0.18%
Platinum •15 mins	948.90	-5.60	-0.59%
WTI Crude •13 mins	82.65	-0.08	-0.10%
Gasoline •10 mins	2.709	-0.005	-0.19%
Ethanol •36 mins	2.161	+0.000	+0.00%
Silver •15 mins	28.31	-0.08	-0.26%

Silver • 15 mins	28.31	-0.08	-0.26%
Copper • 15 mins	4.430	-0.007	-0.16%
Brent Crude • 15 mins	87.11	-0.18	-0.21%
Natural Gas • 11 mins	1.743	-0.014	-0.80%
Heating Oil • 11 mins	2.536	+0.002	+0.07%

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GBP/USD: Challenging a Strong Support Area

By - Jan 23, 2013, 6:11 AM CST

GBP/USD is challenging its key support area between 1.5829 (15/11/2012 low) and 1.5755 (28/08/2012 low). In the short-term, the decline is overextended, suggesting that a rebound is likely. A break of the hourly resistance at 1.5893 (21/01/2013 high) would confirm this scenario.

GBP/USD is moving in a long-term horizontal range defined by the strong support at 1.5235 (13/01/2012 low) and the strong resistance at 1.6302 (30/04/2012 high).

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