Commodity Prices

Gold •10 mins	2,338.40	-3.70	-0.16%
Platinum •10 mins	915.80	-7.00	-0.76%
WTI Crude •30 mins	82.81	-0.55	-0.66%
Gasoline •30 mins	2.734	+0.009	+0.33%
Ethanol •29 mins	2.161	+0.000	+0.00%
Silver •10 mins	27.35	-0.02	-0.06%

Silver • 10 mins	27.35	-0.02	-0.06%
Copper • 10 mins	4.487	+0.027	+0.59%
Brent Crude • 10 mins	88.06	-0.36	-0.41%
Natural Gas • 30 mins	1.653	-0.159	-8.77%
Heating Oil • 30 mins	2.550	-0.029	-1.14%

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GBP/USD: The Strong Support Area Has Been Breached

By - Jan 28, 2013, 5:20 AM CST

GBP/USD has moved below its support area defined by 1.5829 (15/11/2012 low) and 1.5755 (28/08/2012 low). A support can be found at 1.5637 (16/08/2012 low). Hourly resistances can be found at 1.5827 (25/01/2013 high) and 1.5893 (21/01/2013 high.)

A decisive break of the support at 1.5755 would validate a medium-term double-top (from 1.5829 to 1.6302). The implied downside risk is given by 1.5356.

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).

Daily Technical Report