10^th December 2021 Technical Analysis

GBPUSD

GBPUSD rose slightly on Thursday, and the technical bias is bearish due to lower lows in the recent downtrend.

The pair is currently trading near 1.32213，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.32300

Resistance level 2: 1.32430

Resistance level 3: 1.32600

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

Support level 1: 1.32100

Support level 2: 1.31900

Support level 3: 1.31750

Today, the United Kingdom will announce October GDP data. Higher data indicate favourable to the pound, so the GBPUSD currency pair is bullish, 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.

EURUSD

EURUSD fell on Thursday, and the technical bias is bearish due to lower lows in the recent volatility trend.

The pair is currently trading near 1.12928，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.13000

Resistance level 2: 1.13150

Resistance level 3: 1.13350

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

Support level 1: 1.12800

Support level 2: 1.12650

Support level 3: 1.12500

Today, the United States will announce November inflation data. Higher data indicate favourable to the US 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 sell the EURUSD currency pair near the current level.