Technical Outlook for Majors 11/11/2015
 

EURUSD
The Euro reversed and closed above 1.07 handle yesterday, following probe below that was contained ticks away from initial targets at 1.0664/58.
Overall structure remains bearish, while near-term technicals are mixed. This suggests prolonged consolidation in the near-term.
Initial range has been established between 1.0660, initial target and 1.0800, hourly Ichimoku cloud top, with price action expected to hold within this span.
Falling daily 10SMA and Tenkan-sen line, offer next solid resistance at 1.0870, maintaining downside pressure and expected to cap extended upside attempts.
Res: 1.0772; 1.0800; 1.0832; 1.0870
Sup: 1.0715; 1.0673; 1.0658; 1.0611


GBPUSD
Cable extends recovery off 1.5026, 06 Nov low, after yesterday