1^st December 2021 Technical Analysis

EURUSD

EURUSD rose on Tuesday, and the technical bias is bullish due to higher lows in the recent uptrend.

The pair is currently trading near 1.13347，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.13700

Resistance level 2: 1.13950

Resistance level 3: 1.14300

Below the price, multiple support levels can be seen which may prevent the price from falling.

Support level 1: 1.13050

Support level 2: 1.12850

Support level 3: 1.12580

Today, U.S will announce the Markit Manufacturing PMI for November. Higher data indicate unfavourable to the U.S dollar, so it is negative for the EURUSD currency pairs, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to buy the EURUSD currency pair near the current level.

GBPUSD

GBPUSD fell on Tuesday, and the technical bias is bearish due to lower highs in the recent downtrend.

The pair is currently trading near 1.32983，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.33100

Resistance level 2: 1.33300

Resistance level 3: 1.33450

Below the price, multiple support levels can be seen which may prevent the price from falling.

Support level 1: 1.32750

Support level 2: 1.32520

Support level 3: 1.32320

Today, UK will announce the Markit Manufacturing PMI for November data. Higher data indicate favourable to the Pound, so it is bullish for the GBPUSD currency pair, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to sell the GBPUSD currency pair near the current level.