28th January 2022 Technical Analysis

EURUSD

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

The pair is currently trading near 1.11423，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.11600

Resistance level 2:  1.11850

Resistance level 3: 1.12200

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

Support level 1: 1.11200

Support level 2: 1.11000

Support level 3: 1.10750

Germany will announce GDP growth data for the fourth quarter of 2021 today, higher data indicates that it is good for 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 Thursday, and the technical bias is bearish due to lower lows in the recent downtrend.

The pair is currently trading near 1.33860，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.34050

Resistance level 2: 1.34330

Resistance level 3: 1.34680

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

Support level 1: 1.33570

Support level 2: 1.33250

Support level 3: 1.33000

Today, the United States will release the PCE price index data for December. Higher data indicates  favorable the US dollar, so it is negative to 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.