Windsor Brokers - Short Term Technical Analysis for Majors (14:00 GMT)

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EUR/USD

Recovery phase off 1.1875 2010 low, posted 07 Jun, stalled at 1.2468 yesterday, near 76.4% retracement of 1.2671/1.1875 downleg. Trendline support at 1.2373 and a higher platform at 1.2339, have been lost, exposing key 1.2240, 17Jun low, support. Forming higher low above here will keep immediate bulls in play, while break lower risks bear resumption.

Res: 1.2327, 1.2353, 1.2398, 1.2415
Sup: 1.2240, 1.2214, 1.2162, 1.2110




GBP/USD
Yesterday’s break above hourly rising wedge resistance failed to sustain gains, stalling at 1.4935, ahead of reversal. Break below trendline support at 1.4800 confirms a false break higher. 1.4710, 38.2% retracement of 1.4344/1.4935 rise, has been taken, with 1.4686 seen, ahead of strong push higher. 1.4935 caps for now, with lower top below here favored. Only break here to resume bulls.

Res: 1.4854, 1.4885, 1.4935, 1.4965
Sup: 1.4686, 1.4644, 1.4607, 1.4571




USD/JPY

Recovery off 90.22, yesterday’s low, stalled at 91.49, falling trendline drawn off 04 Jun high, ahead of reversal. This now seeks a swing low over 90.22, while re-defining a 5 weeks triangle. Bias remains for an eventual downside break.

Res: 91.09, 91.21, 91.49, 91.81
Sup: 90.49, 90.22, 89.80, 89.21




USD/CHF

Spiked lower yesterday, to post fresh 5 weeks low at 1.0995, before bouncing. Structure so far suggests this is corrective ahead of next downside attempt through 1.0995, towards 1.0924, near 61.8% retracement of 1.0435/1.1730 upleg. Upside, 1.1208/25 caps for now.

Res: 1.1136, 1.1154, 1.1225, 1.1249
Sup: 1.1068, 1.1007, 1.0995, 1.0924