15th February 2022 Technical Analysis

EURUSD

EURUSD fell on Monday, and the technical bias is bearish due to lower lows in the recent downtrend.

The pair is currently trading near 1.13038，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1:1.13150

Resistance level 2: 1.13300

Resistance level 3:1.13520

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

Support level 1: 1.12900

Support level 2: 1.12740

Support level 3: 1.12500

Today, the euro zone will release the GDP growth data for the fourth quarter of 2021. Higher data indicates favorable to the euro, so it is bullish for the European and American 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.

GBPUSD

GBPUSD fell on Monday, and the technical bias is bearish due to lower lows in the recent horizontal swing.

The pair is currently trading near 1.35312，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.35400

Resistance level 2: 1.35600

Resistance level 3:1.35800

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

Support level 1: 1.35150

Support level 2:1.35000

Support level 3: 1.34800

On Wednesday (February 16), the United States will release retail sales data for January. Higher data indicates favorable to the US dollar, so it is negative 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.