26th November 2021 Technical Analysis

EURUSD

EURUSD fluctuated on Thursday, and the technical bias was bearish due to lower highs in the recent downtrend.

The pair is currently trading near 1.12094，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.12170

Resistance level 2: 1.12290

Resistance level 3: 1.12400

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

Support level 1: 1.11950

Support level 2: 1.11800

Support level 3: 1.11650

Next Monday, Germany will announce the inflation data for November. 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.

GBPUSD

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

The pair is currently trading near 1.33198，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.33320

Resistance level 2: 1.33500

Resistance level 3: 1.33700

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

Support level 1: 1.33050

Support level 2: 1.32900

Support level 3: 1.32700

Next Tuesday, the United States will release data on the CB Consumer Confidence Index 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.