25^th  January2022 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 1.13212, and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level1: 1.13350

Resistance level2: 1.13450

Resistance level3: 1.13550

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

Support level1: 1.13100

Support level2: 1.13000

Support level3: 1.12900

Today, Germany will release the Ifo economic sentiment index data for January. Higher data indicates favourable to the euro, so it is bullish 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.

GBPUSD

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

The pair is currently trading near 1.34830，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.35000

Resistance level 2: 1.35250

Resistance level 3: 1.35550

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

Support level 1: 1.34650

Support level 2: 1.34350

Support level 3: 1.33950

The US today will release the January CB Consumer Confidence Index data, higher data indicates that it is favourable to the US dollar, 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.