Short Term Technical Analysis for Majors (07:30 GMT)

[WindsorBrokers]

EUR/USD

Maintains near-term positive tone off 1.3836, after gains peaked at 1.4281 and subsequent pullback found support at 1.4156, just above initial support at 1.4130. Regain of 1.4281 is sought for resumption of current uptrend towards key near-term barrier at 1.4373, 07 July high. Failure to clear 1.4281 would risk further easing, as hourly momentum is waning. Loss of 1.4100 support, however, to weaken the structure.

Res: 1.4257, 1.4281, 1.4300, 1.4351
Sup: 1.4156, 1.4130, 1.4109, 1.4098




GBP/USD

Strong rally that emerged after yesterday’s consolidation at 1.5960/00 zone, breached key near-term resistances at 1.6045/77, 200 day MA, 08 July high and 1.6139, 04 July correction top, to extend recovery from fresh 7-month low at 1.5779, posted on 12 July. New high was reached at 1.6192, ahead of corrective easing. Corrective easing should hold above 1.6050, to maintain near-term bull-tone for fresh attempt through 1.6200 zone, towards next strong barriers at 1.6248/61, bear-channel resistance / 22 June high.

Res: 1.6192, 1.6248, 1.6261, 1.6300
Sup: 1.6094, 1.6077, 1.6047, 1.6000





USD/JPY

Has accelerated losses after breaking below key supports at 79.68/55 and 79.00, to spike to fresh 4-month low at 78.45. This confirms an extension of the broader downtrend from 85.50 and open way for possible retest of 76.32, 16 Mar, pre-intervention low. Corrective attempts were limited by 20 day MA, while 80.00 zone caps for now.

Res: 79.59, 79.68, 80.00, 80.25
Sup: 78.62, 78.55, 78.45, 78.00





USD/CHF

Slumps to a fresh historical low at 0.8073 overnight, after yesterday’s loss of previous low at 0.8273 accelerated losses. Corrective action on extremely overextended hourly studies is seen preceding fresh weakness, with 0.8000, then 0.7900 levels in focus, as wider picture outlook remains firmly bearish. Attempt through 0.8170, today’s high, to open way for stronger correction, with 0.8200/80 seen next.

Res: 0.8200, 0.8280, 0.8309, 0.8365
Sup: 0.8142, 0.8111, 0.8100, 0.8073

[WindsorBrokers]

EUR/USD

Maintains near-term bearish tone from 1.4281, 14 July high. Today’s lower opening confirms, with break below Fib 50% of 1.3836/1.4281 at 1.4058 and loss of 13 July low at 1.4035, now looking for test of Fib 61.8% at 1.4006, below which and psychological 1.4000 level would open 1.3950 first, with possible full retracement and test of 1.3836 favored. On the upside, 1.4090/1.4110, Friday’s intraday lows / 20 day MA, offers immediate resistance, while only break above 1.4200 barrier would ease bear pressure.

Res: 1.4090, 1.4110, 1.4188, 1.4198
Sup: 1.4006, 1.4000, 1.3950, 1.3900




GBP/USD

Hovers at 1.6100 zone, following pullback from 1.6192, 14 July high, with 20 day MA, currently at 1.6096, containing dips for now. Further reversal, however, would be targeting strong support at 1.6050/30 zone, daily 200 day MA / Fib 50% of 1.5343/1.6745 upleg and 38.2% of 1.5779/1.6192 ascend, loss of which to weaken the structure and signal an extension of the broader bear-trend. Regain of 1.6200 barrier improves and opens way for fresh leg higher, as a part of the short-term bull-trend from 1.5779, towards 1.6261, 22 June high.

Res: 1.6164, 1.6192, 1.6248, 1.6261
Sup: 1.6066, 1.6050, 1.6030, 1.6000




USD/JPY

Remains in a narrow range sideways trading around 79.00 mark, as recovery attempt from 78.45, fresh four month low, stalled at 79.59. Near term outlook sees potential for fresh recovery, while 79.00 holds, for attack at 79.59. However, regain of 80.00/25 levels, is required to signal a return to the previous range. Otherwise, below 79.00, immediate target lies at 78.45, with possible extension of the broader downtrend towards 76.32, not ruled out short-term.

Res: 79.16, 79.27, 79.59, 79.68
Sup: 78.88, 78.55, 78.45, 78.00





USD/CHF

Near-term corrective phase off fresh record low at 0.8073 was short-lived, as gains stalled just under 0.8200 barrier and fresh weakness nearly fully retraced 0.8073/0.8197 upleg, dipping to 0.8077 overnight. Current recovery attempt is so far seen capped at 0.8200, with break here required to signal stronger correction towards 0.8273/0.8300. Holding below 0.8200, however, keeps bears in play for fresh attempt through 0.8073, towards 0.8000/0.7900 targets.

Res: 0.8200, 0.8280, 0.8309, 0.8365
Sup: 0.8077, 0.8073, 0.8050, 0.8000

[WindsorBrokers]

EUR/USD

Maintains near-term bearish tone from 1.4281, 14 July high. Break below Fib 50% of 1.3836/1.4281 at 1.4058 and loss of 13 July low at 1.4035, has extended losses to 1.4013, just above Fib 61.8% at 1.4006, below which and psychological 1.4000 level would open 1.3950 first, with possible full retracement and test of 1.3836 favored. On the upside, 1.4090/1.4110, Friday’s intraday lows / 20 day MA, offers immediate resistance, while only break above 1.4200 barrier would ease bear pressure.

Res: 1.4090, 1.4110, 1.4188, 1.4198
Sup: 1.4013, 1.4006, 1.4000, 1.3950




GBP/USD

Hovers at 1.6100 zone, following pullback from 1.6192, 14 July high, with 20 day MA, currently at 1.6096, containing dips for now. Further reversal, however, would be targeting strong support at 1.6050/30 zone, daily 200 day MA / Fib 50% of 1.5343/1.6745 upleg and 38.2% of 1.5779/1.6192 ascend, loss of which to weaken the structure and signal an extension of the broader bear-trend. Regain of 1.6200 barrier improves and opens way for fresh leg higher, as a part of the short-term bull-trend from 1.5779, towards 1.6261, 22 June high.

Res: 1.6127, 1.6164, 1.6192, 1.6248
Sup: 1.6061, 1.6050, 1.6030, 1.6000




USD/JPY

Remains in a narrow range sideways trading around 79.00 mark, as recovery attempt from 78.45, fresh four month low, stalled at 79.59. Near term outlook sees potential for fresh recovery, while 79.00 holds, for attack at 79.59. However, regain of 80.00/25 levels, is required to signal a return to the previous range. Otherwise, below 79.00, immediate target lies at 78.45, with possible extension of the broader downtrend towards 76.32, not ruled out short-term.

Res: 79.16, 79.27, 79.59, 79.68
Sup: 78.88, 78.55, 78.45, 78.00





USD/CHF

Near-term corrective phase off fresh record low at 0.8073 was short-lived, as gains stalled just under 0.8200 barrier and fresh weakness nearly fully retraced 0.8073/0.8197 upleg, dipping to 0.8077 overnight. Current recovery attempt is so far seen capped at 0.8200, with break here required to signal stronger correction towards 0.8273/0.8300. Holding below 0.8200, however, keeps bears in play for fresh attempt through 0.8073, towards 0.8000/0.7900 targets.

Res: 0.8200, 0.8280, 0.8309, 0.8365
Sup: 0.8112, 0.8077, 0.8073, 0.8050

[WindsorBrokers]

EUR/USD

Near-term slide from 1.4281, 14 July high, found temporary support just above strong support zone at 1.4000. Subsequent bounce regained 1.4100 handle, extending to 1.4135, where gains were capped by 20 day MA. Broader outlook remains bearish, with the latest weakness under 1.4100, increasing risk of fresh attempt at 1.4000, below which to focus 1.3950 and 1.3836 on a break. On the upside, regain of 1.4135 to focus 1.4200, however, main near-term barrier at 1.4281 needs to be cleared to confirm higher low at 1.4013 and resume short-term uptrend from 1.3836, 12 July low.

Res: 1.4121, 1.4135, 1.4188, 1.4198
Sup: 1.4067, 1.4013, 1.4006, 1.4000




GBP/USD

Recovers yesterday’s sharp decline that found temporary support at 1.6000 zone, just below Fib 50% of 1.5779/1.6192 ascend. Regain of 1.6050, daily 200 day MA, improves the near-term tone, however, clearance of 1.6100 barrier, also 20 day MA, is required signal fresh strength and mark higher low at 1.6004. Key near-term resistance lies at 1.6192, above which to expose bear channel resistance at 1.6235. Failure to regain 1.6100 handle, risks reversal to 1.6000, below which exposes Fibonacci 50% and 61.8% levels at 1.1.5986 and 1.5937 respectively.

Res: 1.6080, 1.6105, 1.6127, 1.6164
Sup: 1.6040, 1.6030, 1.6004, 1.5986




USD/JPY

Remains in a narrow range sideways trading around 79.00 mark, as recovery attempt from 78.45, fresh four month low, stalled at 79.59. Near term outlook sees potential for fresh recovery, while 79.00 holds, for attack at 79.59. However, regain of 80.00/25 levels, is required to signal a return to the previous range. Otherwise, below 79.00, immediate target lies at 78.45, with possible extension of the broader downtrend towards 76.32, not ruled out short-term.

Res: 79.16, 79.27, 79.59, 79.68
Sup: 78.88, 78.55, 78.45, 78.00





USD/CHF

Near-term outlook shows a return to strength after finding ground just above fresh record low and recent break above 0.8200 barrier. Immediate resistances lie at 0.8273, previous low and 0.8300/25 zone, above which would signal stronger recovery ahead. Wider picture show the key short-term barrier at 0.8520/50 zone, and failure to regain the latter, would risk a lower top and fresh leg lower of a longer-term downtrend.

Res: 0.8231, 0.8273, 0.8309, 0.8325
Sup: 0.8178, 0.8150, 0.8112, 0.8077

[WindsorBrokers]

EUR/USD

Maintains near-term positive tone off yesterday’s higher platform at 1.4015, as the latest upleg from higher low at 1.4067 regained 1.4200 handle. While 1.4129, 20 day MA, holds dips, scope exists for fresh push higher and attack at key near-term resistance at 1.4281, 14 July high, break of which would open way for further extension of recovery phase from 1.3836, 12 July low. Reversal under 1.4281, however, would risk lower top and continuation of the broader bear-trend from 1.4938, 04 May peak, with initial focus at 1.4000 zone.

Res: 1.4200, 1.4216, 1.4247, 1.4281
Sup: 1.4135, 1.4100, 1.4067, 1.4013




GBP/USD

Remains in a recovery mode after yesterday’s sharp decline found temporary support at 1.6000 zone, just below Fib 50% of 1.5779/1.6192 ascend. Regain of 1.6050, daily 200 day MA, improves the near-term tone, with today’s clearance of 1.6100 barrier and extension to 1.6159 so far, turning focus at 1.6192, key near-term barrier. Corrective dips should be contained by 20 day MA, currently at 1.6080, to maintain immediate positive structure.

Res: 1.6159, 1.6192, 1.6261, 1.6309
Sup: 1.6103, 1.6080, 1.6054, 1.6040




USD/JPY

Remains in a narrow range sideways trading around 79.00 mark, as recovery attempt from 78.45, fresh four month low, stalled at 79.59. Near term outlook sees potential for fresh recovery, while 79.00 holds, for attack at 79.59. However, regain of 80.00/25 levels, is required to signal a return to the previous range. Otherwise, below 79.00, immediate target lies at 78.45, with possible extension of the broader downtrend towards 76.32, not ruled out short-term.

Res: 79.16, 79.27, 79.59, 79.68
Sup: 78.88, 78.55, 78.45, 78.00





USD/CHF

Near-term outlook shows a return to strength after finding ground just above fresh record low and recent break above 0.8200 barrier. Immediate resistances lie at 0.8273, previous low and 0.8300/25 zone, above which would signal stronger recovery ahead. Wider picture show the key short-term barrier at 0.8520/50 zone, and failure to regain the latter, would risk a lower top and fresh leg lower of a longer-term downtrend.

Res: 0.8231, 0.8273, 0.8309, 0.8325
Sup: 0.8185, 0.8150, 0.8112, 0.8077