27th January 2022 Technical Analysis

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

The pair is currently trading near 1.13407，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.12500

Resistance level 2: 1.12700

Resistance level 3: 1.12930

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

Support level 1: 1.12300

Support level 2: 1.12100

Support level 3: 1.11950

Today, Germany will release the Gfk consumer confidence index for February. Higher data indicates  favorable to the Euro, so it is bullish for the European and American 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 Wednesday, and the technical bias is bearish due to lower lows in the recent downtrend.

The pair is currently trading near 1.34650，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.34700

Resistance level 2: 1.34900

Resistance level 3: 1.35050

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

Support level 1: 1.34550

Support level 2: 1.34400

Support level 3: 1.34250

USA today will release data on durable goods orders for December. Higher data indicates favorable to the USD and therefore it is negative to 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.