Commodity Prices

Gold •641 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,980.70	-2.50	-0.13%
WTI Crude •11 mins	111.30	-0.24	-0.22%
Gasoline •14 mins	3.268	-0.020	-0.60%
Ethanol •641 days	2.161	+0.000	+0.00%
Silver •641 days	30.82	+1.16	+3.92%

Silver • 641 days	30.82	+1.16	+3.92%
Copper • 641 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	109.72	+0.69	+0.63%
Natural Gas • 11 mins	2.793	-0.007	-0.25%
Heating Oil • 14 mins	4.462	+0.101	+2.31%

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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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