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

http://mediaserver.fxstreet.com/Repo...0825140900.gif



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

http://mediaserver.fxstreet.com/Repo...0825140834.gif



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

http://mediaserver.fxstreet.com/Repo...0825140812.gif



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

http://mediaserver.fxstreet.com/Repo...0825140743.gif