25th November 2021 Technical Analysis

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 1.33270，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.33400

Resistance level 2: 1.33650

Resistance level 3: 1.33950

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

Support level 1: 1.33050

Support level 2: 1.32800

Support level 3: 1.32500

Today, the Governor of the Bank of England Bailey will deliver a speech. The hawks’ remarks and positions show that they are beneficial to the pound, so the GBPUSD currency pair is bullish, 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.

EURUSD

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

The pair is currently trading near 1.12030，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.12150

Resistance level 2: 1.12320

Resistance level 3: 1.12550

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

Support level 1: 1.11850

Support level 2: 1.11650

Support level 3: 1.11400

Today, Germany will announce the third quarter GDP data. Higher data indicate 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.