Commodity Prices

Gold •595 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	2,088.50	-24.40	-1.15%
WTI Crude •11 mins	65.24	+0.05	+0.08%
Gasoline •14 mins	1.972	+0.004	+0.22%
Ethanol •595 days	2.161	+0.000	+0.00%
Silver •595 days	30.82	+1.16	+3.92%

Silver • 595 days	30.82	+1.16	+3.92%
Copper • 595 days	4.530	+0.111	+2.51%
Brent Crude • 25 mins	70.35	+2.93	+4.35%
Natural Gas • 11 mins	3.029	+0.018	+0.60%
Heating Oil • 12 mins	2.515	-0.004	-0.15%

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GBP/USD: Declining Sharply

By - Jul 05, 2013, 5:19 AM CDT

GBP/USD declined sharply yesterday. The support at 1.5009 is challenged. A key support lies at 1.4832. The short-term technical configuration remains negative as long as prices remain below the resistance at 1.5130 (03/07/2013 low). Another resistance can be found at 1.5305 (03/07/2013 high).

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. However, monitor the supports at 1.5009 and 1.4832 given the increasing short-term oversold conditions.

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