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Gold •235 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	986.50	-1.20	-0.12%
WTI Crude •10 mins	70.23	-0.17	-0.24%
Gasoline •14 mins	2.027	+0.000	+0.01%
Ethanol •235 days	2.161	+0.000	+0.00%
Silver •235 days	30.82	+1.16	+3.92%

Silver • 235 days	30.82	+1.16	+3.92%
Copper • 235 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	74.30	-0.13	-0.17%
Natural Gas • 10 mins	4.023	-0.211	-4.98%
Heating Oil • 10 mins	2.436	+0.004	+0.14%

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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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