Windsor Brokers - Short Term Technical Analysis for Majors (13:30 GMT)

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EUR/USD

Remains in a steep downtrend from 1.4496, 14 June high, losing key supports at1.4320/00, to accelerate losses to probe levels under 1.4100 level. Fresh 3-week low was reached at 1.4089 this morning, ahead of 1.4067/12, 26/25 May low, loss of which would attract 1.3968, key short-term support, for retest. Overextended hourly / 4-hour studies suggest corrective action, with 1.4200, overnight high and hourly 20 day MA, expected to cap for now. Wider picture outlook also weakened, as 100 day MA at 1.4155 was lost.

Res: 1.4155, 1.4200, 1.4256, 1.4300
Sup: 1.4089, 1.4067, 1.4012, 1.4000




GBP/USD

Upside rejection at 1.6440 has triggered sharp decline through 1.6240, triangle support and 1.6215, 10 June low, also losing 1.6200 handle, to extend losses close to 1.6131, next target and 25 May low. Further downside action is seen towards key level at 1.6057, 24 May low and recent range floor, loss of which would weaken the broader structure and confirm short-term top at 1.6745. on the upside, immediate resistance lies at 1.6220, while 1.6300 zone caps for now.


Res: 1.6215, 1.6224, 1.6272, 1.6300
Sup: 1.6144, 1.6131, 1.6100, 1.6057




USD/JPY

Near-term price action off 79.68/80.00 cleared strong barrier at 80.70, also trendline off 82.20, to reach 81.05 high thus far, ahead on pullback, as near-term studies entered overbought zone. Immediate support lies at 80.50/40 zone, 20 day MA / yesterday