Short Term Technical Analysis for Majors (10:20 GMT)

EUR/USD
Extends reversal off 1.3358 lower top, through 1.3180/63 support zone, to reach 1.3124 low thus far. This brings 1.3059, 02 Dec low in focus, with possible retest of 1.2968 also in play. Early rejection above the latter, however, may signal fresh recovery attempt, though, bears remain firmly in play while 1.3358 caps.

Res: 1.3186, 1.3242, 1.3270, 1.3358
Sup: 1.3124, 1.3100, 1.3059, 1.3049

http://mediaserver.fxstreet.com/Repo...1220102440.gif


GBP/USD
Extended downtrend from 1.6297 after leaving a lower top at 1.5910, breaking through previous low at 1.5483, to reach 1.5453 so far. Correction off here needs to clear minimum1.5645 to firm the tone and spark further recovery, otherwise, fresh weakness through 1.5405 towards 1.5295 would be likely scenario.

Res: 1.5583, 1.5645, 1.5667, 1.5710
Sup: 1.5453, 1.5405, 1.5384, 1.5344

http://mediaserver.fxstreet.com/Repo...1220102417.gif



USD/JPY
Recent consolidation ceiling at 84.29/39 caps all upside attempts for now, as the latest two false breaks were followed by immediate pullbacks. Bears are tested 83.63, consolidation bottom, with fresh upside attempt under way. This keeps focus at 84.39, with break higher to open 85.40 next. Loss of 83.63, however, delays.

Res: 84.19, 84.39, 84.49, 84.60
Sup: 83.63, 83.16, 82.83, 82.33

http://mediaserver.fxstreet.com/Repo...1220102335.gif



USD/CHF
Decline off 0.9732 lower high found support at 0.9556, just ahead of key 0.9546 level, where the fresh strength has emerged. Correction stalled at 0.9718, just under 0.9732 and while below here, keeps the down side in focus, with potential break below 0.9556 to expose 0.9461, yearly low. Clearance of 0.9732, however, provides relief and opens 0.9849.

Res: 0.9718, 0.9732, 0.9754, 0.9795
Sup: 0.9630, 0.9595, 0.9556, 0.9546

http://mediaserver.fxstreet.com/Repo...1220102248.gif