Short Term Technical Analysis for Majors (14:20 GMT)

[WindsorBrokers]

EUR/USD
Remains constructive off 1.2208, 23 Jun higher low, following the earlier correction off 1.2468, 21 Jun high. Holding 1.2252, 25 June higher low, keeps near-term bulls in play for possible attempt towards 1.2429, and key 1.2468, break of which is needed to resume recovery off 1.1875. Loss of 1.2252, however, would weaken the structure and risk 1.2208.

Res: 1.2398, 1.2415, 1.2429, 1.2468
Sup: 1.2280, 1.2252, 1.2208, 1.2162




GBP/USD

Has broken above daily rising channel, also close to 1.5031, 61.8% retracement of the 1.5523/1.4230 fall, to reach 1.5076 on 25 June, ahead of shallow correction. Fresh strength now attempts through 1.5076, with sustained break here to eye 1.5149. Downside, break below 1.4854 weakens outlook.

Res: 1.5095, 1.5149, 1.5174, 1.5188
Sup: 1.5015, 1.4973, 1.4914, 1.4885




USD/JPY

Continues to trend lower off 91.47, 21 June key lower top, with scope now seen for full retracement towards 88.95 swing low. An anticipated break will trigger a near-term extension to 87.96, 2010 low. 89.76 offer initial resistance, and break here is needed to ease immediate bear pressure.

Res: 89.50, 89.76, 89.97, 90.32
Sup: 88.95, 88.14, 87.96, 87.36




USD/CHF

Last week bear flag triggered a fresh weakness that has broken under 1.0924, 10 May low, and 1.0841, 04 May low. Risk is now seen for test of1.0728/1.0698, 03 May/ 27 Apr lows, next. Today's lower ceiling at 1.0937 now provides an immediate cap.

Res: 1.0889, 1.0938, 1.0952, 1.0981
Sup: 1.0810, 1.0728, 1.0698, 1.0674