Short Term Technical Analysis for Majors (14:15 GMT)

[WindsorBrokers]

EUR/USD

Maintains positive tone off 1.2731, 21 July higher low, as clearance of 1.2965 confirms a trend continuation. Today’s break through 1.3026, with 1.3044 seen so far, now opens way for test of 1.3073/93 and 1.3125. Corrective pullback should be contained by 1.2888/59 to keep immediate bulls in play.

Res: 1.3044, 1.3073, 1.3093, 1.3125
Sup: 1.2961, 1.2888, 1.2859, 1.2834




GBP/USD

Continues to trend higher, following bounce off 1.5123, last week’s higher low and clearance 1.5470, 15 July previous high. Today’s lift above 1.5526 has so far tested 1.5561/75, 200 days moving average / 23 Feb high, with sustained break here required to open 1.5635, 50% retracement of 1.7044/1.4230 decline, next. Initial support stands at 1.5440, while loss of 1.5345 delays.

Res: 1.5575, 1.5635, 1.5665, 1.5688
Sup: 1.5440, 1.5375, 1.5345, 1.5335




USD/JPY

Recovery attempt off 86.25/33 stalled at 87.71 yesterday, ahead of reversal to 86.80, where the fresh strength emerged. Today’s price action has seen renewed attempt at 87.71, with break here needed to resume recovery. Otherwise, failure at 87.71 may mark a double top for fresh weakness towards 86.33/25.

Res: 87.38, 87.71, 87.84, 88.00
Sup: 86.80, 86.72, 86.58, 86.33




USD/CHF

Confirmed a minor double bottom at 1.0393, 22 Jul low, with today's strength through 1.0562, currently breaking above 1.0617 resistance. Bulls seek 1.0632, 200 days MA, ahead of the 1.0676 pivot. Only loss of 1.0480/58 would defer for a 1.0394 retest.

Res: 1.0632, 1.0645, 1.0676, 1.0697
Sup: 1.0538, 1.0500, 1.0480, 1.0458