Commodity Prices

Gold •20 mins	2,413.80	+15.80	+0.66%
Platinum •20 mins	943.80	-10.70	-1.12%
WTI Crude •16 hours	83.14	+0.41	+0.50%
Gasoline •16 hours	2.710	-0.003	-0.13%
Ethanol •14 hours	2.161	+0.000	+0.00%
Silver •20 mins	28.84	+0.46	+1.63%

Silver • 20 mins	28.84	+0.46	+1.63%
Copper • 20 mins	4.498	+0.061	+1.37%
Brent Crude • 15 hours	87.29	+0.18	+0.21%
Natural Gas • 16 hours	1.752	-0.005	-0.28%
Heating Oil • 16 hours	2.541	+0.007	+0.29%

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GBP/USD: Medium-Term Double-Top Validated

By - Jan 30, 2013, 6:43 AM CST

GBP/USD has broken its support area defined by 1.5829 (15/11/2012 low) and 1.5755 (28/08/2012 low). Further decline is expected as long as the resistance at 1.5893 (21/01/2013 high) holds. An hourly resistance is at 1.5827 (25/01/2013 high).

The break of the support at 1.5755 has validated 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).

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