Short Term Technical Analysis for Majors (08:00 GMT)

[WindsorBrokers]

EUR/USD

Reversal off 1.2468, 21 June high, cleared 1.2243/40 levels, and found support at 1.2208 yesterday, ahead of bounce. This so far attempted at 1.2353, though clear break here is required to sustain recovery for retest of 1.2468, otherwise, forming a lower top and fresh weakness would be likely scenario. Break below 1.2208 to expose 1.2162 next.

Res: 1.2353, 1.2398, 1.2415, 1.2468
Sup: 1.2270, 1.2243, 1.2208, 1.2162




GBP/USD

Continues to channel higher, with the latest push off 1.4686, 22 June higher low, breaking through 1.4935/41 resistance zone, to post fresh high at 1.4998 today. Scope is now seen for test of 1.5030, 61.8% retracement of 1.5523/1.4230 decline; 1.5044/52, 12/10 May highs and final attempt at 1.5060, upper channel boundary. Immediate support lies at 1.4857/13 and loss of the latter to delay short-term bulls.

Res: 1.5005, 1.5030, 1.5044, 1.5052
Sup: 1.4857, 1.4813, 1.4801, 1.4748




USD/JPY
Continues to trend lower off 91.47, 21 June key lower top. The latest break below 89.72, yesterday’s low, now opens 89.21, 25 May low, next. Below here to focus 88.95, medium-term trendline/20 May low, and 87.96, 20 May annual low. 90.59, 23 Jun high, should cap for now.

Res: 90.32, 90.59, 90.78, 91.09
Sup: 89.21, 88.95, 88.14, 87.96




USD/CHF

Spiked lower, to post fresh 5 weeks low at 1.0995 on 21 June, before bouncing. Structure so far suggests this is corrective ahead of next downside attempt through 1.0995, towards 1.0924, near 61.8% retracement of 1.0435/1.1730 upleg. Break above 1.1136/54 is needed to trigger fresh strength.

Res: 1.1136, 1.1154, 1.1225, 1.1249
Sup: 1.1019, 1.1007, 1.0995, 1.0924