Commodity Prices

Gold •662 days	2,368.70	+35.30	+1.51%
Platinum •20 mins	2,030.40	-8.00	-0.39%
WTI Crude •1 day	94.40	-1.45	-1.51%
Gasoline •1 day	3.463	+0.001	+0.01%
Ethanol •662 days	2.161	+0.000	+0.00%
Silver •662 days	30.82	+1.16	+3.92%

Silver • 662 days	30.82	+1.16	+3.92%
Copper • 662 days	4.530	+0.111	+2.51%
Brent Crude • 2 days	105.33	+0.26	+0.25%
Natural Gas • 1 day	2.523	-0.091	-3.48%
Heating Oil • 1 day	3.887	-0.101	-2.53%

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GBP/USD: Short-Term Double-Bottom Formation

By - May 31, 2013, 5:48 AM CDT

GBP/USD has validated a double-bottom formation with an upside potential at 1.5298. Resistances can be found at 1.5281 (20/05/2013 high) and 1.5331 (14/05/2013 high). Hourly supports are at 1.5197 (intraday low) and 1.5099 (intraday low).

In the longer-term, the break of the 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) calls for a further medium-term decline. Therefore, the rise from 1.4832 is viewed as a rebound. A key resistance can be found at 1.5606 (01/05/2013 high, see also 50% retracement).

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