Commodity Prices

Gold •845 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,496.10	-49.30	-3.19%
WTI Crude •11 mins	102.00	+0.24	+0.24%
Gasoline •11 mins	3.229	+0.010	+0.32%
Ethanol •845 days	2.161	+0.000	+0.00%
Silver •845 days	30.82	+1.16	+3.92%

Silver • 845 days	30.82	+1.16	+3.92%
Copper • 845 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	116.11	+0.30	+0.26%
Natural Gas • 11 mins	2.570	-0.032	-1.23%
Heating Oil • 11 mins	4.920	+0.008	+0.15%

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GBP/USD: Short-Term Consolidation is Underway

By - Jul 15, 2013, 5:18 AM CDT

GBP/USD is weakening after its surge higher near the support at 1.4832. A resistance lies at 1.5222 (11/07/2013 high), while a key resistance is at 1.5305. Hourly support can be found at 1.5062 (intraday low, see also the 38.2% retracement of the current bounce) and 1.4981 (previous resistance).

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 recent sharp bounce does not change this scenario. A key resistance is at 1.5305.

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