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

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EURUSD

Bulls came back to play after the price broke above congestion tops at 1.3080. Fresh strength through initial barriers at 1.3121/45, opens way towards 1.3205, 11/07 peak, setting scope for further retracement of 1.3414/1.2754 downleg. Break above 1.3205 is required to open 1.3258, next target, Fibonacci 76.4% retracement and 21/06 high, seen as next target. Positive tone on lower timeframes studies and daily close above 200DMA, supports the notion, while previous resistances at 1.3100/1.3080 offer immediate support, while key support and breakpoint lies at 1.3000 higher platform.

Res: 1.3173; 1.3205; 1.3258; 1.3300
Sup: 1.3125; 1.3100; 1.3080; 1.3050







GBPUSD

The price bounced from short-term consolidation floor and cracked the upper boundary at 1.5140 zone, signaling possible extension higher and retest of key short-term hurdle at 1.5220. However, lack of momentum for final push higher, with hourly studies being overall neutral, would question short-term bulls. Failure to regain 1.5200/20 barriers, would signal prolonged sideways trading. Initial support at 1.5100 holds for now, while more downside risk would be seen on violation of range floor at 1.5030 zone.

Res: 1.5142; 1.5167; 1.5192; 1.5220
Sup: 1.5100; 1.5075; 1.5056; 1.5043






USDJPY

The pair remains under pressure, following Monday