Technical Outlook for Majors 03/11/2015

[WindsorBrokers]

EURUSD
Near-term consolidation above 1.0895 low, remains capped by falling trendline that connects 1.1712 and 1.1458 peaks, which currently lies at 1.1042. Barrier is reinforced by falling daily 10SMA and together with 200SMA at 1.1106, marks strong resistance zone, which is seen capping upside attempts, ahead of fresh push lower.
Near-term studies are in neutral/negative mode, while bears prevail on daily technicals and favor bearish resumption of larger bear-leg from 1.1494, peak of 15 Oct, after completion of corrective phase from 1.0895, 28 Oct low.
Alternatively, sustained break above 200SMA and 1.1124, Fibonacci 38.2% of 1.1494/1.0895 downleg, would sideline bears, in favor of extended correction.
Res:1.1029; 1.1042; 1.1071; 1.1094
Sup: 1.0983; 1.0964; 1.0937; 1.0895


GBPUSD
Cable entered near-term consolidative phase, after yesterday