24^th  January2022 Technical Analysis

GBPJPY

GBPJPY fell on Friday, with a bearish technical bias as it made lower lows during the recent downtrend.

The pair is currently trading near 154.114, and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level1: 154.350

Resistance level2: 154.650

Resistance level3: 155.000

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

Support level1: 153.900

Support level2: 153.650

Support level3: 153.300

Today the UK will release the January Markit Manufacturing PMI data. Higher data indicate favourable to the pound and therefore bullish for the GBPJPY pair and vice versa.

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

GBPUSD

GBPUSD fell on Friday, technical bias bearish as it made lower lows in recent downtrend.

The pair is currently trading near 1.35518，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.35650

Resistance level 2: 1.35800

Resistance level 3: 1.36000

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

Support level 1: 1.35400

Support level 2: 1.35200

Support level 3: 1.34950

USA today will release the January Markit Manufacturing PMI data, higher data indicates favourable to the US dollar, so it is negative for the GBPUSD 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.