Commodity Prices

Gold •15 mins	2,347.20	+4.70	+0.20%
Platinum •15 mins	922.10	+1.60	+0.17%
WTI Crude •4 hours	83.85	+0.28	+0.34%
Gasoline •4 hours	2.765	+0.006	+0.23%
Ethanol •2 hours	2.161	+0.000	+0.00%
Silver •15 mins	27.54	-0.10	-0.35%

Silver • 15 mins	27.54	-0.10	-0.35%
Copper • 15 mins	4.574	+0.036	+0.78%
Brent Crude • 3 hours	89.50	+0.49	+0.55%
Natural Gas • 6 hours	1.614	-0.024	-1.47%
Heating Oil • 4 hours	2.548	-0.002	-0.09%

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GBP/USD: Short-Term Consolidation is Underway

By - Jul 15, 2013, 5:18 AM CDT

GBP/USD is weakening after its surge higher near the support at 1.4832. A resistance lies at 1.5222 (11/07/2013 high), while a key resistance is at 1.5305. Hourly support can be found at 1.5062 (intraday low, see also the 38.2% retracement of the current bounce) and 1.4981 (previous resistance).

In the longer-term, the break of the 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) calls for a further medium-term decline. The recent sharp bounce does not change this scenario. A key resistance is at 1.5305.

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