10th November 2021 Technical Analysis

GBPJPY

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

The pair is currently trading near 153.097，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 153.230

Resistance level 2: 153.650

Resistance level 3: 154.050

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

Support level 1: 152.850

Support level 2: 152.550

Support level 3: 152.150

Today, UK will announce GDP data for September. Higher data indicate favourable to the pound. Therefore, the GBPJPY 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 GBPJPY currency pair near the current level.

XAUUSD

Gold price rose on Tuesday, and the technical bias is bullish due to higher highs in the recent uptrend.

The gold price is currently trading at 1831.91，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1835.00

Resistance level 2: 1845.00

Resistance level 3: 1855.00

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

Support level 1: 1826.00

Support level 2: 1820.00

Support level 3: 1812.00

Today, the U.S will announce the inflation data for October. Higher data indicate favourable to the U.S dollar, so it is bearish for the gold price, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to buy gold near the current level.