Windsor Brokers - Short Term Technical Analysis for Majors (07:45 GMT)
 

EURUSD

The Euro enters near-term corrective phase above Asian fresh low at 1.0821. Acceleration higher on oversold hourly / 4-hour studies, attacks 1.09 barrier, ahead of more significant barriers at 1.0961/1.1000, former low of 26 Jan / Fibonacci 61.8% retracement of 1.1112/1.0821 descend, where extended rallies should be ideally capped. Daily / weekly close in long red candle maintains strong bearish tone, as daily Bearish momentum is building up. Near-term corrective action is expected to precede fresh push towards next targets at 1.0800 / 1.0762, psychological support / Sep 2003 low. Only close above 1.10 barrier would sideline downside risk and signal stronger corrective action.

Res: 1.0900; 0.0961; 1.1000; 1.1031
Sup: 1.0860; 1.0821; 1.0800; 1.0762




GBPUSD

Cable approached psychological 1.5000 support, on last Friday