Technical Outlook for Majors 22/02/2016

[WindsorBrokers]

EURUSD
Bearish acceleration that commenced at the beginning of European session broke initial support at 1.1070, daily Kijun-sen / former hourly base and took out more significant 200SMA, which previously acted as strong support.
Extension below 1.1051 cracked next target at 1.1016, rising daily 30SMA and eyes psychological 1.1000 support.
We look for daily close below 200SMA to confirm bearish stance and signal probe below 1.10 handle, towards next strong support at 1.0963, Fibonacci 61.8% of 1.0709/1.1374 rally, reinforced by 100SMA.
However, daily Slow Stochastic is oversold and bullish signal on reversal higher, could be anticipated.
Former supports at 1.0951/70, now act as initial resistances, which guard pivotal barrier at 1.1140, former consolidation top, which is expected to limit stronger corrective attempts.
Res: 1.1051; 1.1070; 1.1122; 1.1140
Sup: 1.1000; 1.0963; 1.0900; 1.0865


GBPUSD
Cable started the week with approx 120 gap-lower, on increased concerns that Britain would leave European Union, following comments of influential London Major Boris Johnson, who supported Brexit campaign. Johnson