Commodity Prices

Gold •624 days	2,368.70	+35.30	+1.51%
Platinum •20 mins	1,978.60	+34.90	+1.80%
WTI Crude •11 mins	95.50	-0.05	-0.05%
Gasoline •11 mins	3.171	+0.044	+1.40%
Ethanol •624 days	2.161	+0.000	+0.00%
Silver •624 days	30.82	+1.16	+3.92%

Silver • 624 days	30.82	+1.16	+3.92%
Copper • 624 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	108.48	-0.17	-0.16%
Natural Gas • 11 mins	3.057	-0.109	-3.44%
Heating Oil • 11 mins	4.356	+0.014	+0.31%

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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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