Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

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EURUSD

The Euro remains steady and eventually cleared previous high of 20/11 at 1.3577, to test psychological 1.3600 barrier. Near-term studies are bullish and support further rallies, as the price continues to trend higher above hourly bull trendline off 1.3398 higher low. The third wave that commenced from 1.3398, could extend to initial barrier at1.3626, Fibonacci 61.8% retracement of 1.3831/1.3294 descend and 1.3688, Fibonacci 100% expansion of the up wave from 1.3398. Daily close above 1.3577 is required to confirm scenario. On the downside, initial support lies at 1.3557, session low / bull trendline off 1.3398, ahead of 1.3520, 26/11 higher low / Fibonacci 38.2% of 1.3398/1.3598 and 1.3500, round-figure support and 50% retracement, where stronger pullback should be contained.

Res: 1.3600; 1.3645; 1.3626; 1.3688
Sup: 1.3557; 1.3520; 1.3500; 1.3489




GBPUSD

Cable regained strength and focuses upper range levels, after pullback from 1.6239 found support at 1.6135 zone, where higher platform was created. Break above psychological 1.6200 barrier, looks for retest of 1.6239 and key hurdles at 1.6254/59 in extension. Positive near-term studies support the notion, with 1.6200 zone, session low / 26/11 intraday high and Fibonacci 38.2% of 1.6137/1.6229 upleg, offering solid support. Only extension below here and 1.6180, 50% retracement, would soften near-term tone.

Res: 1.6229; 1.6239; 1.6254; 1.6259
Sup: 1.6200; 1.6180; 1.6144; 1.6132







USDJPY

The pair trades in near-term consolidative mode, after posting fresh high at101.90 yesterday, with the downside being protected by initial support at 101.00, 22/11 higher low and Fibonacci 38.2% of 99.56/101.90 upleg. Fresh rally from 101.13, yesterday