Commodity Prices

Gold •294 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	980.30	+0.70	+0.07%
WTI Crude •10 mins	62.50	+0.23	+0.37%
Gasoline •10 mins	2.091	+0.007	+0.34%
Ethanol •294 days	2.161	+0.000	+0.00%
Silver •294 days	30.82	+1.16	+3.92%

Silver • 294 days	30.82	+1.16	+3.92%
Copper • 294 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	66.27	+0.15	+0.23%
Natural Gas • 10 mins	2.984	-0.038	-1.26%
Heating Oil • 11 mins	2.132	+0.005	+0.25%

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GBP/USD: Medium-Term Double-Top Validated

By - Jan 30, 2013, 6:43 AM CST

GBP/USD has broken its support area defined by 1.5829 (15/11/2012 low) and 1.5755 (28/08/2012 low). Further decline is expected as long as the resistance at 1.5893 (21/01/2013 high) holds. An hourly resistance is at 1.5827 (25/01/2013 high).

The break of the support at 1.5755 has validated 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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