Commodity Prices

Gold •708 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,709.50	+43.80	+2.63%
WTI Crude •11 mins	84.66	-3.05	-3.48%
Gasoline •11 mins	3.028	-0.073	-2.35%
Ethanol •708 days	2.161	+0.000	+0.00%
Silver •708 days	30.82	+1.16	+3.92%

Silver • 708 days	30.82	+1.16	+3.92%
Copper • 708 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	87.35	-3.03	-3.35%
Natural Gas • 11 mins	3.108	+0.021	+0.68%
Heating Oil • 11 mins	3.405	-0.108	-3.07%

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GBP/USD: The Strong Support Area Has Been Breached

By - Jan 28, 2013, 5:20 AM CST

GBP/USD has moved below its support area defined by 1.5829 (15/11/2012 low) and 1.5755 (28/08/2012 low). A support can be found at 1.5637 (16/08/2012 low). Hourly resistances can be found at 1.5827 (25/01/2013 high) and 1.5893 (21/01/2013 high.)

A decisive break of the support at 1.5755 would validate a medium-term double-top (from 1.5829 to 1.6302). The implied downside risk is given by 1.5356.

GBP/USD is moving in a long-term 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