Short Term Technical Analysis for Majors

[WindsorBrokers]

Short Term Technical Analysis for Majors (11:00GMT)

EUR/USD
Today's breach of bull channel support sets up scope for a reversal pattern to form, for a corrective phase lower. Hourly structure warns of the potential for losses towards 1.3054, however a squeeze higher to 1.3233 remains.

Res: 1.3240, 1.3280, 1.3310, 1.3435
Sup: 1.3120, 1.3100, 1.3055, 1.3025

GBP/USD
A potential top appears to be building given the recent break and failure to hold above daily rising channel resistance. S-term structure suggests that the latest extend lower may be exhausted. Scope now for a corrective rally.

Res: 1.5910, 1.5930, 1.5975, 1.6005
Sup: 1.5725, 1.5695, 1.5660, 1.5580

USD/JPY
Yesterday's bullish engulfing candle warns of the potential for further s-term strength. However, daily structure suggests the formation of a lower high to challenge monthly t-line support off 79.75. Below 86.25 favors bears.

Res: 86.25, 86.45, 86.65, 86.90
Sup: 85.55, 85.30, 85.00, 84.00

USD/CHF
Last Friday saw a bounce off falling trend-channel support. A final squeeze back towards this support remains possible, with the confines of this formation likely containing price action in the near-term.

Res: 1.0560, 1.0580, 1.0605, 1.0625
Sup: 1.0475, 1.0440, 1.0405, 1.0375

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (11:00GMT)

EUR/USD

Now under yesterday's low at 1.3074 ends scope for a continued corrective phase off this same level. Short-term momentum studies warn of oversold conditions. In any case, a lower high is now sought for further losses.

Res: 1.3130, 1.3195, 1.3235, 1.3270
Sup: 1.3000, 1.2980, 1.2950, 1.2920

GBP/USD

The recent failure to hold over daily rising channel resistance warns of a topping pattern. While below yesterday's spike high at 1.5910, bears dominant. However, a final swing higher towards 1.6000 cannot be ruled out.

Res: 1.5880, 1.5910, 1.5975, 1.6000
Sup: 1.5665, 1.5580, 1.5550, 1.5520

USD/JPY

Once again probes the region close to monthly trend channel support off the key low at 79.75. An eventual clean break below both 85.02 and 84.82 is expected for a continuation of weakness towards 83.51 initially.

Res: 85.50, 85.95, 86.30, 86.50
Sup: 84.80, 84.00, 83.50, 83.00

USD/CHF

The rise of last Friday's 1.0332 remains constructive with a lower high now sought for a further leg higher. With this in mind a swing low towards 1.0413/1.0375 is possible.

Res: 1.0580, 1.0620, 1.0650, 1.0695
Sup: 1.0460, 1.0440, 1.0405, 1.0365

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (10:50GMT)

EUR/USD
Oversold conditions have yielded a retrace higher which has narrowly missed the 23.6% retrace of the 1.3334-1.2830 fall, at 1.2949, reaching 1.2933. The break under 1.2830 now warns of an extend lower towards 1.2774.

Res: 1.2940, 1.2955, 1.3020, 1.3040
Sup: 1.2800, 1.2775, 1.2730, 1.2680

GBP/USD
The current rise off the day's 1.5615 low is seen as corrective with a lower high sought for a further weakness. Longer-term a likely false break higher out of a rising channel warns of losses ahead too.

Res: 1.5740, 1.5770, 1.5825, 1.5870
Sup: 1.5580, 1.5550, 1.5520, 1.5500

USD/JPY
Short-term gains remain viable given yesterday's hammer candle. However, trade is dominated by a larger falling wedge formation off 89.15 (12 Jul high). Scope for a re-test of wedge support before longer lasting gains.

Res: 85.90, 86.25, 86.50, 86.90
Sup: 84.90, 84.65, 83.45, 83.00

USD/CHF
The break over daily falling channel resistance now hints at a potential basing formation. Structure present since 1.0618 (10 Aug high) may be corrective with scope for a lapse towards 1.0461 before fresh gains.

Res: 1.0630, 1.0670, 1.0750 1.0770
Sup: 1.0545, 1.0520, 1.0475, 1.0430

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (12:30GMT)

EUR/USD
Rises off yesterday’s 1.2780 low to challenge 1.2933. While below this level there remains scope for further weakness towards 1.2708. Over 1.2933 would target 1.3054 in the s-term. A lower high sought for a return to weakness.

Res: 1.2910, 1.2935, 1.3030, 1.3055
Sup: 1.2730, 1.2700, 1.2680, 1.2650

GBP/USD
An hourly falling wedge pattern is developing with scope for a test of the formations support before a recovery higher. Back over 1.5714 is required to break down the short-term bear structure. Fresh falls favored.

Res: 1.5715, 1.5770, 1.5825, 1.5865
Sup: 1.5550, 1.5525, 1.5510, 1.5490

USD/JPY
May have put in a short-term bottom via Wed's hammer candle to challenge daily falling wedge resistance off 89.15 high. The rise above 86.25/46 will firm for 86.89/99 (approx 50% of 89.15/84.72). Lows at 84.94/85.18 buoy.

Res: 86.25, 86.65, 86.95, 87.20
Sup: 85.35, 85.10, 84.70, 84.60

USD/CHF
USD/CHF A potential expanded flat consolidation is indicated following the rise from last Fri's 1.0332 low. A swing low over the 1.0400 region bodes well for next upside attempt at 1.0640/76. Loss there however re-exposes 1.0332/04

Res: 1.0585, 1.0630, 1.0675, 1.0700
Sup: 1.0460, 1.0440, 1.0395, 1.0375

 

[WindsorBrokers]

Windsor Brokers - Short Term Technical Analysis for Majors (07:40 GMT

EUR/USD

Thu's lower top at 1.2933 continues to cap ahead of latest slide to probe 1.2732 and break opening cluster of Fib retraces @1.2600/05 where bounce may be anticipated on positive hourly divergences. Reclaiming 1.2832 relieves

Res: 1.2832, 1.2867, 1.2910, 1.2933
Sup: 1.2732, 1.2682, 1.260, 1.2615

GBP/USD

Has met and bounced off daily trend-line support from 1.4346. Scope now for a short-term recovery higher. Back under the day's low at 1.5535 will re-ignite bears for 1.5473 initially. Hourly falling wedge forming.

Res: 1.5656, 1.5690 1.5714, 1.5736,
Sup: 1.5562, 1.5553, 1.5521, 1.5473

USD/JPY

A poss 5-wave rise off Wed's hammer low of 84.72 is indicated while current setback from 86.39 high may unfold a potential flat consol'n. A swing low over 85.56 bodes well to next upleg. Abv 86.46 firms 86.89 next and 88.12.

Res: 86.24, 86.46, 86.65, 87.89
Sup: 84.94, 85.18, 85.35, 85.49

USD/CHF

Last upswing stalled at 1.0630 last Thur, under key resist at 1.0646. An hourly head & shoulders top now fueling a drop back twds 1.0332, the lower level of n-tern 1.0332 to 1.0640 sideways consoln.
Res: 1.0536, 1.0555, 1.0588. 1.0630
Sup: 1.0413, 1.0396, 1.0375, 1.0332

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:10GMT)

EUR/USD
Deep pullback off 1.3334 (06 Aug high) found support at 1.2734 yesterday, just above 1.2732, the key 21 Jul higher low. Market now attempting to base & over 1.2872 firms for 1.2906/1.2933. Below 1.2800 re-tests 1.2732-34, guards 1.2615.

Res: 1.2910, 1.2950, 1.3030, 1.3055
Sup: 1.2800, 1.2775, 1.2730, 1.2615

GBP/USD
Structure of the rise from the 16 Aug intraday low at 1.5553 suggests scope for a pullback towards 1.5620. However, failure to garner support in that region will warn of the resumption of weakness

Res: 1.5705, 1.5765, 1.5815, 1.5865
Sup: 1.5620, 1.5595, 1.5555, 1.5530

USD/JPY
Recovery attempt off 84.72 stalled at 86.39 Fri before breaking lower from a rising wedge. This confirms the underlying negative structure. 85.97 likely caps above for an initial retest on 84.72 where an eventual loss is expected.

Res: 85.45, 85.95, 86.45, 86.65
Sup: 85.10, 84.75, 84.00, 83.50

USD/CHF
Last upswing stalled at 1.0630 last Thursday, under key resist at 1.0646. An hourly head & shoulders top has fueled a drop back towards 1.0332, the lower level of n-tern 1.0332 to 1.0640 sideways consolidating towards 1.0231.

Res: 1.0440, 1.0465, 1.0510, 1.0555
Sup: 1.0350, 1.0305, 1.0231, 1.0200

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:15GMT)

EUR/USD
Deep pullback off 1.3334 (06 Aug high) found support at 1.2734 yesterday, just above 1.2732, the key 21 Jul higher low. Market now attempting to base & over 1.2872 firms for 1.2906/1.2933. Below 1.2800 re-tests 1.2732-34, guards 1.2615.

Res: 1.2910, 1.2950, 1.3030, 1.3055
Sup: 1.2800, 1.2775, 1.2730, 1.2615

GBP/USD
Structure of the rise from the 16 Aug intraday low at 1.5553 suggests scope for a pullback towards 1.5620. However, failure to garner support in that region will warn of the resumption of weakness

Res: 1.5705, 1.5765, 1.5815, 1.5865
Sup: 1.5620, 1.5595, 1.5555, 1.5530

USD/JPY
Recovery attempt off 84.72 stalled at 86.39 Fri before breaking lower from a rising wedge. This confirms the underlying negative structure. 85.97 likely caps above for an initial retest on 84.72 where an eventual loss is expected.

Res: 85.45, 85.95, 86.45, 86.65
Sup: 85.10, 84.75, 84.00, 83.50

USD/CHF
Last upswing stalled at 1.0630 last Thursday, under key resist at 1.0646. An hourly head & shoulders top has fueled a drop back towards 1.0332, the lower level of n-tern 1.0332 to 1.0640 sideways consolidating towards 1.0231.

Res: 1.0440, 1.0465, 1.0510, 1.0555
Sup: 1.0350, 1.0305, 1.0231, 1.0200

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:00GMT)

EUR/USD
Deep pullback off 1.3334 (06 Aug high) found support at 1.2734 Mon, just above 1.2732, the key 21 Jul higher low. A tentative reversal was seen yesterday favoring recovery towards 1.2963, guards 1.3034. Below 1.2800 > 1.2732.

Res: 1.2915, 1.2960, 1.3035, 1.3055
Sup: 1.2795, 1.2775, 1.2730, 1.2680

GBP/USD
Today's clear break under trend-line support from 1.4346 coupled with short-term structure warns of a further extension lower, initially towards 1.5441. Back over 1.5645 neutralizes s-term outlook.

Res: 1.5585, 1.5765, 1.5815, 1.5865
Sup: 1.5620, 1.5595, 1.5555, 1.5530

USD/JPY
Recovery attempt off 84.72 stalled at 86.39 Fri before breaking lower from a rising wedge to 85.11. This confirms the underlying bear trend. 85.97 likely caps above for an initial retest on 84.72 where an eventual loss is expected.

Res: 85.70, 86.00, 86.45, 86.90
Sup: 85.10, 84.75, 84.00, 83.50

USD/CHF
Last upswing stalled at 1.0630 last Thursday, under key resist at 1.0646. An hourly head & shoulders top then fueled a drop back towards 1.0332, the lower level of n-t 1.0332-1.0640 consolidation, towards 1.0231. Lower top now sought.

Res: 1.0465, 1.0510, 1.0555, 1.0590
Sup: 1.0410, 1.0350, 1.0330, 1.0230

 

[ronblack]

Re: Short Term Technical Analysis for Majors (08:00GMT)

Good work. Keep it up. Thanks.

 

[Karty]

Re: Short Term Technical Analysis for Majors (08:00GMT)

only use RSI?

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (10:00 GMT)

EUR/USD

Bounce off 1.2732, 16 Aug low stalled at 1.2920 yesterday, just ahead of key 1.2931, 12 Aug high resistance. Reversal has so far reached 1.2770, with range between 1.2732 and 1.2931 seen near term. Break lower will resume the short term downtrend and open 1.2602, 61.8% of 1.2151/1.3332 ascend. Upside, clearance of 1.2931 will return to strength and focus 1.3030/75.

Res: 1.2861, 1.2888, 1.2920, 1.2931
Sup: 1.2770, 1.2732, 1.2708, 1.2682

GBP/USD

Remains in a near term downtrend, as yesterday’s rally off 1.5497 ran out of steam just under key 1.5700 resistance, with relapse followed. Today’s push higher is looking for renewed attempt at 1.5700 zone, that will signal a fresh strength. Below, loss of 1.5497 risks 1.5473/40 instead.

Res: 1.5689, 1.5700, 1.5714, 1.5735
Sup: 1.5510, 1.5497, 1.5473, 1.5440

USD/JPY

Firmed off a near term higher base at 85.10/10 to approach 85.95, 16 Aug high, ahead of reversal. The underlying structure remains negative and break below 85.10 will confirm a fresh phase lower through 84.72, 11 Aug year low. Upside, clearance of 85.95 is required to open key resistance at 86.36.

Res: 85.95, 86.36, 86.65, 86.90
Sup: 85.34, 85.10, 84.95, 84.72

USD/CHF

Has been attempting to firm off the lower level of the near term 1.0330/1.0638 consolidation band. Clearance of 1.0465 is needed to firm tone further, and open 1.0535 next, otherwise, risk remains for a drop under 1.0385 to retest 1.0350/30 zone.

Res: 1.0465, 1.0505, 1.0535, 1.0555
Sup: 1.0385, 1.0350, 1.0330, 1.0295

 

[ronblack]

Re: Short Term Technical Analysis for Majors (08:00GMT)

Karty, one indicator is enough. All indicators are derivatives of price. If you are looking at two indicators you are subject to multi-collinearity (gosh dif word to spell).

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:00 GMT)

EUR/USD

Friday’s break lower from the four day consolidation has extended weakness off 1.3332, 06 Aug peak, to reach 1.2663 so far. Next target stands at 1.2605, 50% retracement of 1.1875/1.3332 upleg, while 1.2770/1.2830 zone caps for now.

Res: 1.2728, 1.2770, 1.2830, 1.2880
Sup: 1.2663, 1.2605, 1.2565, 1.2522

GBP/USD

Near-term price action shows a falling trend channel, seen on a four hour chart. Scope is now seen for a rise to 1.5645 channel upper boundary, ahead of fresh weakness. Break here, however, may trigger strength towards 1.5700, key near term resistance.

Res: 1.5645, 1.5689, 1.5700, 1.5714
Sup: 1.5460, 1.5440, 1.5350, 1.5335

USD/JPY

Maintains negative tone, with current consolidation within a tightening band likely to precede the next leg lower to 84.00/83.25. Initial support stands at 85.18, ahead of consolidation floor at 84.90/72. Only break above 85.90/86.36 zone would turn focus higher.

Res: 81.81, 85.90, 86.36, 86.65
Sup: 85.18, 84.90, 84.72, 84.00

USD/CHF

Continues to trend lower as recovery phase off 1.0256, 19 Aug low, has possibly marked a lower top at Friday’s 1.0391 high, for the next leg lower through 1.0257 to 1.0182, 15 Jan low. Clearance of 1.0391 and 1.0466 is needed to turn the focus higher.

Res: 1.0393, 1.0430, 1.0465, 1.0505
Sup: 1.0286, 1.0257, 1.2031, 1.0182

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:30 GMT)

EUR/USD

Continues to trend lower, extending weakness off 1.3332, 06 Aug peak, approaching 1.2605, 50% retracement of 1.1875/1.3332 upleg. Break here to open way towards 1.2522, 13 July low, next. Upside, 1.2683/1.2728 expected to cap.

Res: 1.2664, 1.2683, 1.2728, 1.2770
Sup: 1.2605, 1.2565, 1.2522, 1.2480

GBP/USD

Break below 1.5470, 15 July previous high, now further weakens the structure, with 1.5350/35 seen as next target. Oversold hourly conditions, however, suggest correction, with higher low into 1.55 area expected to precede fresh weakness.

Res: 1.5515, 1.5550, 1.5575, 1.5620
Sup: 1.5350, 1.5335, 1.5296, 1.5280

USD/JPY

Today’s break under 84.73, yearly low, confirms bears, with 84.00 now in focus. Below here to open first key support at 83.51, 02 June 1995 low. Upside, 84.73 now reverted to initial resistance.

Res: 84.73, 85.05, 85.42, 85.90
Sup: 84.00, 83.51, 83.25, 82.30

USD/CHF

Recovery from 1.0256, 19 Aug low, seeks a lower top under 1.0465, via a 3-legged upswing, before the next downleg. Short-term risk remains set at this year's interim low of 1.0130 while break above 1.0465 needed to firm outlook.


Res: 1.0455, 1.0465, 1.0505, 1.0535
Sup: 1.0393, 1.0362, 1.0302, 1.0286

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:00 GMT)

EUR/USD

Yesterday’s break through 1.2605 Fibonacci level, has extended decline from 1.3332, to reach 1.2586 thus far. Current consolidation is forming negative continuation and break below 1.2615/1.2586 to trigger fresh weakness towards 1.2522, 13 July low. 1.2717/28 zone expected to cap.

Res: 1.2695, 1.2717, 1.2728, 1.2770
Sup: 1.2615, 1.2586, 1.2565, 1.2522

GBP/USD

Attempts to hold below 200 days moving average, confirming negative hourly structure.
Scope is seen for a continuation of the recent weakness, initially towards 1.5323, 38.2% retracement of 1.4230/1.5997 upleg. Upside, 1.5500 zone caps for now and potential break here would delay short-term bears.

Res: 1.5448, 1.5500, 1.5515, 1.5550
Sup: 1.5371, 1.5350, 1.5335, 1.5296

USD/JPY

Yesterday’s break below 84.73 support confirmed a bear configuration, to extend decline to 83.58 so far, ahead of corrective activity that precedes a fresh push lower towards key trendline support at 83.25. Above, 84.50/90 area offers initial resistance, and possible break higher to delay immediate bears.

Res: 84.73, 84.87, 85.05, 85.42
Sup: 83.86, 83.51, 83.25, 82.30

USD/CHF

Left a lower top at 1.0449 yesterday, just below key pivotal resistance at 1.0465, ahead of sharp decline. This maintains the negative outlook, and a favors break under 1.0256, 19 Aug low, to focus 1.0182, 15 Jan low, next. Key support/target stands at 1.0130, yearly low.

Res: 1.0335, 1.0380, 1.0400, 1.0449
Sup: 1.0256, 1.0230, 1.0182, 1.0130

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:10 GMT)

EUR/USD

Consolidates within 1.2586/1.2725 range, with short-term bears still in play. While holding below 1.2730, focus remains on 1.2586, break of which opens 1.2522, 13 July low next. Sustained break above 1.2730, however, would delay and allow stronger recovery towards 1.2831, 20 Aug high.

Res: 1.2725, 1.2770, 1.2831, 1.2880
Sup: 1.2608, 1.2586, 1.2565, 1.2522

GBP/USD

Attempts to hold below 200 days moving average, confirming negative hourly structure.
Scope is seen for a continuation of the recent weakness, initially towards 1.5323, 38.2% retracement of 1.4230/1.5997 upleg. Upside, 1.5500 zone caps for now and potential break here would delay short-term bears.

Res: 1.5463, 1.5500, 1.5515, 1.5550
Sup: 1.5371, 1.5350, 1.5335, 1.5296

USD/JPY

Yesterday’s break below 84.73 support confirmed a bear configuration, to extend decline to 83.58 so far, ahead of corrective activity that precedes a fresh push lower towards key trendline support at 83.25. Above, 84.50/90 area offers initial resistance, and possible break higher to delay immediate bears.

Res: 84.73, 84.87, 85.05, 85.42
Sup: 83.86, 83.51, 83.25, 82.30

USD/CHF

Left a lower top at 1.0449 yesterday, just below key pivotal resistance at 1.0465, ahead of sharp decline. This maintains the negative outlook, with today’s break below 1.0256, 19 Aug low, now looking for test of 1.0182, 15 Jan low. Key support/target stands at 1.0130, yearly low.

Res: 1.0335, 1.0380, 1.0400, 1.0449
Sup: 1.0230, 1.0182, 1.0162, 1.0130

 

[WindsorBrokers]

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

EUR/USD

Correction off 1.2586, 24 Aug fresh low, has tripped 1.2725 resistance today, reaching 1.2744. Near term outlook, however, remains negative, with scope for break below 1.2608/1.2586 to test 1.2522. Upside, 1.2770 caps for now, and possible break here to attract 1.2831, 20 Aug high.

Res: 1.2770, 1.2831, 1.2880, 1.2903
Sup: 1.2649, 1.2608, 1.2586, 1.2522

GBP/USD

Attempts to complete a third phase higher in a corrective structure from 1.5371, 24 Aug low. Earlier daily false break higher out of a rising channel dominates for an eventual return to weakness. Only regain of 1.5670/1.5700 zone would return to strength.

Res: 1.5617, 1.5670, 1.5687, 1.5700
Sup: 1.5482, 1.5460, 1.5425, 1.5400

USD/JPY

Completed a multiday bear configuration to extend the underlying downtrend. 83.58 has been reached so far, ahead of the current corrective bounce which should precede a fresh push lower to test key trendline support at 83.25.

Res: 84.87, 85.11, 85.42, 85.68
Sup: 84.50, 84.04, 83.58, 83.25

USD/CHF

Probes lower to breach previous 1.0257 low, following reversal after an upside failure ahead of key 1.0463, 19 Aug lower high. Risk is set at 1.0230, ahead of this year's interim low at 1.0130. Immediate resistance now stands at 1.0327/35.

Res: 1.0327, 1.0335, 1.0380, 1.0400
Sup: 1.0230, 1.0182, 1.0162, 1.0130

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:10 GMT)

EUR/USD

Extended correction from 1.2586, to reach 1.2763 yesterday, just ahead of 1.2770 resistance. However, while 1.2770/90 holds, the latest upleg is seen corrective for fresh weakness to test 1.2586, possibly 1.2522 on a break. Lift above 1.2790 delays and opens 1.2831 instead.

Res: 1.2770, 1.2790, 1.2831, 1.2880
Sup: 1.2690, 1.2665, 1.2651, 1.2608

GBP/USD

Bounce off 1.5371, 24 Aug low, stalled at 1.5596 yesterday, just under 1.5610, 38.2% retracement of 1.5997/1.5371 decline, ahead of fresh weakness. Higher low above 1.5438 is required to resume recovery and clearance of 1.5596/1.5610 to open 1.5700 zone for test. Loss of 1.5438, however would signal a continuation of the short term weakness and focus 1.5371.

Res: 1.5573, 1.5596, 1.5610, 1.5617
Sup: 1.5482, 1.5460, 1.5438, 1.5400

USD/JPY

Completed a multiday bear configuration to extend the underlying downtrend. 83.58 has been reached so far, ahead of the current corrective bounce which should precede a fresh push lower to test key trendline support at 83.25. Break above 84.89, however, may extend recovery.

Res: 84.89, 85.11, 85.42, 85.68
Sup: 84.26, 84.04, 83.58, 83.25

USD/CHF

Extends decline after breaking below 1.0256/46 support zone, with 1.0220 seen so far. Market now focuses 1.1.0182, 15 Jan low, break of which will open way for test of key 1.0130 level, 11 Jan year to day low. Upside, lower ceiling at 1.0317/35 is expected to cap.

Res: 1.0287, 1.0317, 1.0335, 1.0380
Sup: 1.0220, 1.0182, 1.0162, 1.0130

 

[WindsorBrokers]

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

EUR/USD

Remains in a near term corrective mode off 1.2586, 24 Aug low. Break above 1.2730 resistance has so far reached 1.2763. Underlying bear trend is still intact, as 1.2776 Fibonacci level holds, and fresh weakness towards 1.2586/22 would be likely scenario. Break above 1.2776/90 risks stronger recovery and focuses 1.2831/1.2900 zone.

Res: 1.2770, 1.2790, 1.2831, 1.2880
Sup: 1.2690, 1.2665, 1.2651, 1.2608

GBP/USD

Bounce off 1.5371, 24 Aug low, stalled at 1.5596 yesterday, just under 1.5610, 38.2% retracement of 1.5997/1.5371 decline, ahead of fresh weakness. Break below 1.5438 would confirm a lower top and continuation of the short term weakness, to focus 1.5371.
Higher low above 1.5438 is required to resume recovery and clearance of 1.5596/1.5610to open 1.5700 zone for test.

Res: 1.5573, 1.5596, 1.5610, 1.5617
Sup: 1.5465, 1.5438, 1.5400, 1.5371

USD/JPY

Completed a multiday bear configuration to extend the underlying downtrend. 83.58 has been reached so far, ahead of the current corrective bounce which should precede a fresh push lower to test key trendline support at 83.25. Today’s break above 84.73/92 resistance zone may extend the recovery phase, though, only above 85.90 improves the outlook.

Res: 85.11, 85.42, 85.68, 85.90
Sup: 84.26, 84.04, 83.58, 83.25

USD/CHF

Extends decline after breaking below 1.0256/46 support zone, with 1.0220 seen so far. Market now focuses 1.0182, 15 Jan low, break of which will open way for test of key 1.0130 level, 11 Jan year to day low. Upside, lower ceiling at 1.0317/35 is expected to cap.

Res: 1.0287, 1.0317, 1.0335, 1.0380
Sup: 1.0220, 1.0182, 1.0162, 1.0130

 

[WindsorBrokers]

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

EUR/USD

Recovery off 1.2586, 24 Aug low, attempts to form a bearish wedge pattern, with 1.2778/91 expected to cap for fresh weakness. Loss of 1.2675/65 will bring bears back in play and expose 1.2608/1.2586 next. Break above 1.2791, however, will signal further recovery and open 1.2831/1.2900 instead.

Res: 1.2778, 1.2791, 1.2831, 1.2880
Sup: 1.2675, 1.2665, 1.2651, 1.2608

GBP/USD

Remains within a corrective phase off 1.5371, with further strength looking to test 1.5610, 38.2% retracement of the 1.5997/1.5371 fall. Potential break higher will open 1.5672/89 next, otherwise, return to 1.5441/1.5371 would be likely scenario.

Res: 1.5573, 1.5596, 1.5610, 1.5617
Sup: 1.5497, 1.5465, 1.5441, 1.5400

USD/JPY

Reverses lower after testing the 86.00 area. While 86.39/46 caps, scope is seen for a near-term pullback to test former 6-week falling wedge turned to support near 85.00. Swing low is sought near there on encouraging daily studies.

Res: 85.46, 85.97, 86.24, 86.39
Sup: 84.84, 84.57, 84.37, 84.26

USD/CHF

Immediate downside risk hinges on 1.0335, 25 Aug lower high, as down-swings from 1.0625, 12 Aug high, extend. Break below 1.0220 low exposes risk towards this year's low at 1.0130 amid positive divergent daily studies.

Res: 1.0325, 1.0335, 1.0380, 1.0400
Sup: 1.0259, 1.0220, 1.0182, 1.0130