Commodity Prices

Gold •362 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,351.70	+8.70	+0.65%
WTI Crude •11 mins	64.99	-0.12	-0.18%
Gasoline •11 mins	2.067	-0.005	-0.25%
Ethanol •362 days	2.161	+0.000	+0.00%
Silver •362 days	30.82	+1.16	+3.92%

Silver • 362 days	30.82	+1.16	+3.92%
Copper • 362 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	66.65	-0.09	-0.13%
Natural Gas • 10 mins	3.390	-0.066	-1.91%
Heating Oil • 10 mins	2.263	-0.014	-0.59%

Headlines

747 days Will The ECB Continue To Hike Rates?
747 days Forbes: Aramco Remains Largest Company In The Middle East
749 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,149 days Could Crypto Overtake Traditional Investment?
1,153 days Americans Still Quitting Jobs At Record Pace
1,155 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,158 days Is The Dollar Too Strong?
1,159 days Big Tech Disappoints Investors on Earnings Calls
1,160 days Fear And Celebration On Twitter as Musk Takes The Reins
1,161 days China Is Quietly Trying To Distance Itself From Russia
1,162 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,166 days Crypto Investors Won Big In 2021
1,166 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,167 days Food Prices Are Skyrocketing As Putin’s War Persists
1,169 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,169 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,173 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,173 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,174 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,176 days Are NFTs About To Take Over Gaming?

The Problem With Modern Monetary Theory

Modern monetary theory has been…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

The Biggest Challenge Facing West Africa's Single Currency Plan

The Economic Community of West…

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

More Info

Contact Author

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