Commodity Prices

Gold •489 days	2,368.70	+35.30	+1.51%
Platinum •19 mins	1,542.10	-8.60	-0.55%
WTI Crude •11 mins	60.56	+0.00	+0.00%
Gasoline •11 mins	1.917	-0.005	-0.28%
Ethanol •489 days	2.161	+0.000	+0.00%
Silver •489 days	30.82	+1.16	+3.92%

Silver • 489 days	30.82	+1.16	+3.92%
Copper • 489 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	64.48	+0.04	+0.06%
Natural Gas • 11 mins	4.232	-0.111	-2.56%
Heating Oil • 11 mins	2.452	+0.007	+0.29%

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GBP/USD: Making New Low

By - Oct 04, 2012, 5:21 AM CDT

GBP/USD declined yesterday below both the support at 1.6109 (01/10/2012 low) and the rising trendline. Resistance for a bounce is likely given by 1.6142. Other hourly resistance can be found at 1.6187. Short-term support is at 1.5960.

GBP/USD is likely moving in a long-term horizontal range. The resistances given by 1.6302 (30/04/2012 high) and by the long-term declining trendline (linking the August 2009 top with the April 2011 top) favour a corrective phase.

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