Commodity Prices

Gold •19 mins	2,413.80	+15.80	+0.66%
Platinum •19 mins	943.80	-10.70	-1.12%
WTI Crude •4 hours	83.14	+0.41	+0.50%
Gasoline •4 hours	2.710	-0.003	-0.13%
Ethanol •3 hours	2.161	+0.000	+0.00%
Silver •19 mins	28.84	+0.46	+1.63%

Silver • 19 mins	28.84	+0.46	+1.63%
Copper • 19 mins	4.498	+0.061	+1.37%
Brent Crude • 3 hours	87.29	+0.18	+0.21%
Natural Gas • 4 hours	1.752	-0.005	-0.28%
Heating Oil • 4 hours	2.541	+0.007	+0.29%

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GBP/USD: Making New Lows

By - Feb 14, 2013, 6:08 AM CST

GBP/USD has moved below the support implied by the February intraday bullish reversal (1.5573). Further weakness is favoured. Supports can be found at 1.5491 (02/08/2012 low) and 1.5394 (12/07/2012 low). An hourly resistance is at 1.5689 (13/02/2013 high).

The medium-term double-top (from 1.5829 to 1.6302) implies a downside risk at 1.5356.

In the longer-term, GBP/USD is moving in a 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