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

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EUR/USD

Extended higher after clearing key 1.2789/1.2801/43 resistance zone, now focusing 1.2945, though overbought hourly conditions warn of correction. Key near-term support now stands at 1.2680, and possible break lower to delay immediate bulls in favor of stronger correction towards 1.2522.

Res: 1.2945, 1.3015, 1.3065, 1.3095
Sup: 1.2773, 1.2707, 1.2680, 1.2648




GBP/USD

Broke above 1.5304, 38.2% retracement of 1.7041/1.4230 descend, extending gains to 1.5393 thus far. Risk of lower top under 1.5500 zone still exists, as longer term structure is negative, and only break above 1.5500/25 to improve the outlook and resume recovery from 1.4230.

Res: 1.5393, 1.5413, 1.5485, 1.5498
Sup: 1.5201, 1.5187, 1.5143, 1.5085




USD/JPY

Renewed strength from 88.01 higher low, stalled at 89.10, just under 89.14, 12 July high, ahead of reversal. Break below trendline support at 88.30 and 88.01 confirmed a double top, with today