Windsor Brokers - Short Term Technical Analysis for Majors (13:30 GMT)

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EUR/USD

The latest advance off 1.3280, 08 Apr low, has breached key 1.3591 resistance, to extend gains to 1.3691 overnight and retrace over 61.8% of the broader 1.3816/1.3266 decline. Scope is now seen for upside attempt towards 1.3735, with current pullback on overbought conditions to be contained by 1.3538/1.3496, to keep immediate bulls in play.

Res: 1.3691, 1.3735, 1.3788, 1.3816
Sup: 1.3565, 1.3538, 1.3496, 1.3459




GBP/USD

Recovery phase from 1.4780/1.4800 lows broke above key 1.5380 lower platform, to hit 1.5484 today. Immediate pullback has dented 1.5380 support, signaling possible end of recovery, though, 1.5313/1.5267 need to be taken to confirm. However, positive daily structure remains supportive for continuation of the recent strength, focusing 1.5574 next.

Res: 1.5461, 1.5484, 1.5520, 1.5574
Sup: 1.5313, 1.5267, 1.5235, 1.5220




USD/JPY

Rally off 89.74, 18 Mar low, peaked at 94.77 on 05 Apr. A corrective phase followed and support was found at 92.83, near 38.2% retracement of the entire move. 92.77, today