Commodity Prices

Gold •15 mins	2,413.00	+15.00	+0.63%
Platinum •15 mins	942.60	-11.90	-1.25%
WTI Crude •10 mins	83.41	+0.68	+0.82%
Gasoline •11 mins	2.715	+0.001	+0.04%
Ethanol •58 mins	2.161	+0.000	+0.00%
Silver •15 mins	28.85	+0.47	+1.64%

Silver • 15 mins	28.85	+0.47	+1.64%
Copper • 15 mins	4.494	+0.058	+1.30%
Brent Crude • 10 mins	87.36	+0.25	+0.29%
Natural Gas • 10 mins	1.758	+0.001	+0.06%
Heating Oil • 11 mins	2.548	+0.014	+0.54%

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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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