Commodity Prices

Gold •10 mins	2,308.60	-1.00	-0.04%
Platinum •10 mins	965.30	+2.70	+0.28%
WTI Crude •10 hours	78.11	-0.84	-1.06%
Gasoline •10 hours	2.555	-0.041	-1.59%
Ethanol •8 hours	2.161	+0.000	+0.00%
Silver •10 mins	26.69	-0.14	-0.52%

Silver • 10 mins	26.69	-0.14	-0.52%
Copper • 10 mins	4.557	+0.073	+1.62%
Brent Crude • 9 hours	82.96	-0.71	-0.85%
Natural Gas • 10 hours	2.142	+0.107	+5.26%
Heating Oil • 10 hours	2.443	+0.000	+0.01%

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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).

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