9^th December 2021 Technical Analysis

EURUSD

EURUSD rose on Wednesday, and the technical bias is bullish due to higher highs in the recent volatility trend.

The pair is currently trading near 1.13420，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.13600

Resistance level 2: 1.13850

Resistance level 3: 1.14300

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

Support level 1: 1.13250

Support level 2: 1.13000

Support level 3: 1.12700

On Friday, Germany will announce 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 buy 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 1.32055，and multiple resistance levels can be seen above which may prevent the price from rising further.

Resistance level 1: 1.32200

Resistance level 2: 1.32400

Resistance level 3: 1.32620

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

Support level 1: 1.31900

Support level 2: 1.31700

Support level 3: 1.31500

The United States will release November inflation data on Friday. 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.