Commodity Prices

Gold •516 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,646.10	-31.30	-1.87%
WTI Crude •11 mins	59.37	+0.05	+0.08%
Gasoline •11 mins	1.866	-0.003	-0.14%
Ethanol •516 days	2.161	+0.000	+0.00%
Silver •516 days	30.82	+1.16	+3.92%

Silver • 516 days	30.82	+1.16	+3.92%
Copper • 516 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	63.17	+0.00	+0.00%
Natural Gas • 11 mins	4.935	+0.014	+0.28%
Heating Oil • 11 mins	2.340	+0.000	+0.01%

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GBP/USD: Moving Lower

By - Jun 28, 2013, 5:03 AM CDT

GBP/USD continues to move lower. The shortterm technical configuration is bearish as long as prices remain below the resistance at 1.5346 (see also the declining trendline). Supports can be found at 1.5202 and 1.5141.

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. The decline from the top at 1.5752 is viewed as a new phase of weakness. A test of the support at 1.5009 (29/05/2013 low) is expected at the very least in the medium-term.

Daily Technical Report