Windsor Brokers - Short Term Technical Analysis for Majors (08:30 GMT)

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EUR/USD

Reversal from 1.2721 found support at 1.2522 yesterday, ahead of fresh strength. Clearance of 1.2648 and 1.2721 resistances has so far tested 1.2738. Further upside now looks for 1.2770, channel upper boundary and 1.2801, 11 May high. Downside, 1.2648, now reverted to support, underpins, while key support stands at 1.2522.

Res: 1.2738, 1.2770, 1.2801, 1.2850
Sup: 1.2690, 1.2648, 1.2613, 1.2565




GBP/USD

Yesterday's downside rejection at 1.4963 has triggered strong bounce to retest 1.5239, 08 July high. 1.5257 seen so far, but sustained break higher is required to open up the region around 1.5304, 38.2% retracement of 1.7041/1.4230 descend, where a lower high may form for a return to weakness. Downside, 1.5171/43 offers initial support.

Res: 1.5257, 1.5301, 1.5345, 1.5390
Sup: 1.5171, 1.5143, 1.5085, 1.5068





USD/JPY

Continues corrective phase off 89.96/87.01, with 89.14 high posted on 12 July. Immediate pullback left a higher low at 88.01 yesterday, before latest push higher that has tested near 89.14. Break here is needed to open 89.21/50 next. Downside, 88.01/87.99 now marks key support.

Res: 89.14, 89.21, 89.50, 89.78
Sup: 88.38, 88.18, 87.99, 87.62




USD/CHF

Decline from 1.0645, yesterday