Windsor Brokers - Short Term Technical Analysis for Majors (14:30 GMT)

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EUR/USD

Extended decline to reach fresh multi-year low of 1.2142 yesterday, just ahead of key 1.2134 level, 50% retracement of 0.8225/1.6039 ascend. A correction has followed and 1.2443 possibly caps this phase for a fresh weakness towards 1.2134, where an eventual break is favored. Clearance of 1.2443 opens 1.2514/34 instead.

Res: 1.2443, 1.2465, 1.2514, 1.2534
Sup: 1.2306, 1.2256, 1.2228, 1.2142




GBP/USD

Consolidation above 1.4235 and possible attempt at 1.4517/47 have failed at 1.4465, with loss of 1.4273 support now returning focus to the downside. 1.4235 offers initial support, and break there to extend medium-term weakness towards 1.4109, 30 Mar 2009 low. Regain of 1.4465 would delay immediate bears, while break above 1.4547 needed to improve.

Res: 1.4465, 1.4497, 1.4517, 1.4547
Sup: 1.4235, 1.4200, 1.4155, 1.4109




USD/JPY

Continues to trend lower off 93.50/64 double top area that ended the recovery leg off 87.96, yearly low, posted on 06 May. Today