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

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EURUSD

The Euro peaked at 1.0937 yesterday, on two-day rally from 1.08 base, with recovery being so far capped by falling daily 55SMA, which guards more significant daily Ichimoku cloud base at 1.0950.
Near-term technicals are gaining traction and support fresh attempts higher. On the daily chart, indicators are in positive territory, with reversed slow Stochastic, heading north and showing more room upside.
Penetration into daily cloud, is needed to signal bullish resumption towards psychological 1.10 barrier and 1.1058 pivot, lower top of 15 Dec.
Low of narrow Asian range at 1.0900, marks initial support, with hourly Ichimoku cloud top, also Fibonacci 61.8% of 1.0801/1.0937 recovery at 1.0854, expected to ideally contain dips.
Conversely, break below thin hourly cloud, would risk return to 1.08 base.

Res: 1.0921; 1.0937; 1.0950; 1.1009
Sup: 1.0900; 1.0885; 1.0854; 1.0841







GBPUSD


Cable holds in extended, narrow-range consolidation, above fresh eight-month low at 1.4863, where weekly bear-channel support line contained strong fall from 1.5237, 11 Dec peak.
Technicals remain negative and favor bearish resumption, but prolonged consolidation, with corrective upticks, is expected to precede, as daily slow Stochastic is oversold.
Initial resistance lies at psychological 1.50 level, also Fibonacci 38.2% of 1.5237/1.4863 downleg, where corrective rallies should be ideally capped.
Falling daily 20SMA, also mid-point of 1.5237/1.4863 descend, marks pivotal barrier and sustained break here would be a signal of stronger correction.


Res: 1.4927; 1.4948; 1.5000; 1.5050
Sup: 1.4863; 1.4830; 1.4812; 1.4737










USDJPY

The pair returns to directionless near-term mode, holding within narrow range today, after posting fresh low at 120.82, where daily Ichimoku cloud base contained. Yesterday