On Friday both EURUSD and GBPUSD manage to rise. Today both currency pairs are going up even more. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
The EURUSD rose strongly on Friday. The price finished last session of the week above the R1 resistance level, a little above 1.008. Today it is going up even more. The price is already above today’s R1 and 1.014. If the buyers continue generating firm demand, the price might rise above today’s R2 and reach 1.016. But if the bears counterattack, the price could drop to 1.01.
GBPUSD
The GBPUSD also managed to rise on Friday. The price finished last session of the week above 1.186. Today it is going up even more. The price is already above 1.193. If the buyers continue generating firm demand, the price might rise above 1.197 today. But if the bears counterattack, the price could return below 1.19.
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