23^rd December 2021 Technical Analysis

GBPUSD

GBPUSD rose on Wednesday, and the technical bias is bullish due to higher highs in the recent uptrend.

The pair is currently trading near 1.33549, and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level1: 1.33750

Resistance level2: 1.34000

Resistance level3: 1.34250

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

Support level1: 1.33370

Support level2: 1.33000

Support level3: 1.32750

Today, USA will announce the PCE price index data 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 buy the GBPUSD currency pair near the current level.

GBPJPY

GBPJPY rose on Wednesday, and the technical bias is bullish due to higher highs in the recent uptrend.

The pair is currently trading near 152.398，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 152.650

Resistance level 2: 153.150

Resistance level 3: 153.700

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

Support level 1: 152.150

Support level 2: 151.700

Support level 3: 151.150

On Friday, Japan will announce November inflation data. Higher data indicate favourable to the yen, so it is negative for the GBPJPY currency pair, and vice versa.

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