2^nd December 2021 Technical Analysis

EURUSD

EURUSD fell slightly on Wednesday, and the technical bias is bullish due to higher lows in the recent uptrend.

The pair is currently trading near 1.13188，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.13250

Resistance level 2: 1.13400

Resistance level 3: 1.13600

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

Support level 1: 1.13100

Support level 2: 1.12950

Support level 3: 1.12800

Today, the Eurozone will announce the unemployment rate data for October. Higher data indicate unfavourable to the euro, 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 Wednesday, and the technical bias is bearish due to lower lows in the recent downtrend.

The pair is currently trading near 1.32779，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.32950

Resistance level 2: 1.33100

Resistance level 3: 1.33350

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

Support level 1: 1.32520

Support level 2: 1.32320

Support level 3: 1.32100

On Friday, the United States will announce the data of the non-agricultural employment report for November. Higher data indicate favourable 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.