GBPUSD Technical Analysis – July 13, 2021

EURUSD rose on Monday, and the technical bias is bullish due to higher lows in the recent uptrend.

The pair is currently trading near 1.18670, and multiple resistance levels can be seen which may prevent the price from rising further.

  • Resistance level 1: 1.18800
  • Resistance level 2: 1.18950
  • Resistance level 3: 1.19100

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

  • Support level 1: 1.18510
  • Support level 2: 1.18360
  • Support level 3: 1.18200

The United States will announce June inflation data today. Higher data will indicate that it is beneficial to the US dollar, so it is negative for 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.