Short Term Technical Analysis for Majors (14:00 GMT)

[WindsorBrokers]

EUR/USD

Steadies above main trendline off 1.4938, to briefly test 1.4200, Fibonacci level. Break here to open 1.4231/59 next. Caution of hourly studies approaching overbought zone, with potential pullback ideally to reverse at 1.4130/00 zone, to maintain immediate bulls. Hourly 20 day MA at 1.4140 underpins.

Res: 1.4202, 1.4231, 1.4259, 1.4300
Sup: 1.4145, 1.4130, 1.4100, 1.4065




GBP/USD

Clear break above 1.6300 barrier brings near-term bulls fully in play. Initial target at 1.6378 tested so far, with 1.6400/20 in sight and test of 1.6516, key near-term resistance not ruled out. Possible pullback on overbought hourly conditions should be contained above 1.6200, to keep focus higher.

Res: 1.6378, 1.6400, 1.6420, 1.6462
Sup: 1.6334, 1.6300, 1.6273, 1.6250




USD/JPY

Extended reversal after upside failure at 82.20, with sharp fall losing trendline support at 81.55 and strong level at 81.31, to mark over 38.25 retracement of 79.55/82.20 ascend, dipping close to 81.00 support zone. Near-term tone has turned negative, focusing 80.90/60 next, while 81.60 zone limiting the upside for now.

Res: 81.31, 81.50, 81.60, 81.90
Sup: 81.14, 81.00, 80.90, 80.60





USD/CHF

Ends hopes for further recovery after 0.8880/90 zone capped the upside and fresh weakness confirmed lower top at 0.8890 after break below triangle support at 0.8787 extended losses through 0.8746/06 supports, to probe the levels under 0.8700, Fib 61.8% of 0.8550/0.8944 upleg, to reach 0.8646, so far. This brings record low at 85.50 in near-term focus, with corrective attempts seen capped at 0.8730/50 for now.

Res: 0.8716, 0.8730, 0.8746, 0.8780
Sup : 0.8646, 0.8600, 0.8586, 0.8550