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

[WindsorBrokers]

EUR/USD

Remains steady and moving within a narrow range around 1.3400 handle, as bull trendline from 1.3211 low, contained yesterday’s slide at 1.3350. Focus is again on fundamentals, with today’s ECB rate decision coming ahead of EU summit, with decisions expected to be the main driver of the market. Hourly studies are on neutral/positive mode, as the pair attempts through initial barrier at 1.3425, triangle resistance / recent range highs, above which to open strong barriers at 1.3453/85. Downside remains protected at 1.3360/50 zone and while holding above here, near-term positive tone remains in play.

Res: 1.3425, 1.3453, 1.3485, 1.3500
Sup: 1.3400, 1.3390, 1.3360, 1.3350

http://mediaserver.fxstreet.com/Repo...1208075543.gif



GBP/USD

Yesterday’s strong rally from 1.5575/90 base, broke above the triangle resistance, to extend gains above 1.5700 and test 1.5720, strong resistance zone. The pair now trades in a near-term consolidative mode, with positive near-term studies setting scope for fresh extension higher and test of 1.5754, 01 Dec high and key barrier at 1.5777, 30 Nov high. Immediate support lies at 1.5690, 20 day SMA / consolidation floor, ahead of 1.5670/60.

Res: 1.5720, 1.5754, 1.5777, 1.5800
Sup: 1.5690, 1.5670, 1.5660, 1.5640

http://mediaserver.fxstreet.com/Repo...1208075509.gif



USD/JPY

Maintains near-term negative tone, as steady 3-day decline shows succession of lower lows, keeping the focus at the downside. Hourly studies below midlines, favor further weakness, as the pair attempts through key short-term supports at 77.60/50, below which to open 77.28, 30 Nov low, possibly 77.00 on a break. 20-day SMA on 4H chart at 77.75, maintains weak tone, while main bear-trendline off 78.27 high, caps the upside for now at 78.00.

Res: 77.70, 77.85, 78.00, 78.14
Sup: 77.50, 77.28, 77.00, 76.80

http://mediaserver.fxstreet.com/Repo...1208075450.gif



USD/CHF

Continues to move sideways after the upside rejections just under 0.9300 barrier, with downside being protected above 0.9200 handle so far. Risk of further easing exists, as hourly studies are weakening, with loss of immediate supports at 0.9225/00, also Fib 38.2% of 0.9069/0.9294, to trigger fresh leg lower and open next supports at 0.9180, Fib 50% and 0.9165, 05 Dec low. On the upside, 0.9250, today’s high / 20 day SMA, offers initial resistance, ahead of key barriers at 0.9294/0.9300.

Res: 0.9250, 0.9286, 0.9294, 0.9300
Sup: 0.9225, 0.9215, 0.9200, 0.9180

http://mediaserver.fxstreet.com/Repo...1208075429.gif