Windsor Brokers - Short Term Technical Analysis for Majors (13:40 GMT)

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EUR/USD

Four hourly structure reveals a rising chnnl which had it's resistance breached yesterday, warning of a potential false break higher and the initiation of a corrective phase. While over 1.3146 s-term bulls may persist.

Res: 1.3265, 1.3300, 1.3365, 1.3417
Sup: 1.3140, 1.3105, 1.3090, 1.3050




GBP/USD

A re-test of the recent high at 1.5968 remains viable. However, overbought conditions warn of an imminent corrective phase. A push back under 1.5695 may end the current bullish phase.

Res: 1.5968, 1.6010, 1.6027, 1.6070
Sup: 1.5865, 1.5829, 1.5805, 1.5780




USD/JPY

Continues to print fresh annual lows with scope for an eventual return to 79.75 upon a break under last years low at 84.82. This would also constitute a break under monthly trend-line support off 79.75.

Res: 85.67, 86.12, 86.65, 86.89
Sup: 84.00, 83.51, 83.00, 82.30





USD/CHF

Recent hourly consolidation featuring both higher highs and lower lows hints at a possible diamond formation implying possible basing. Regaining 1.0477 high will relieve and avert extension to 1.0344/00.

Res: 1.0458, 1.0480, 1.0536, 1.0578
Sup: 1.0344, 1.0317, 1.0293, 1.0231