Commodity Prices

Gold •505 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,522.00	+4.80	+0.32%
WTI Crude •11 mins	58.59	-0.41	-0.69%
Gasoline •14 mins	1.910	-0.009	-0.45%
Ethanol •505 days	2.161	+0.000	+0.00%
Silver •505 days	30.82	+1.16	+3.92%

Silver • 505 days	30.82	+1.16	+3.92%
Copper • 505 days	4.530	+0.111	+2.51%
Brent Crude • 2 hours	63.38	-0.13	-0.20%
Natural Gas • 25 mins	4.481	+0.007	+0.16%
Heating Oil • 13 mins	2.506	-0.027	-1.06%

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GBP/USD Corrective Activity From Ahead of the YTD Low

By - Jun 05, 2012, 6:17 AM CDT

GBP/USD is seeing some corrective activity from just ahead of the 1.5235 YTD low as the recent accelerated decline starts to unwind.

The velocity of the decline suggests that we could see a period of corrective activity to unwind the oversold state although the structure remains negative with 1.5500/1.5603 expected to cap for an atttack on 1.5235, loss to open psychological 1.5000 as the slide extends.

We would need to see the re-capture of 1.5848 from here to suggest that an important low has formed, with scope then for an attack on 1.6000 initially as bulls gain control.

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