Yesterday the EURUSD dropped significantly, but the GBPUSD rose strongly. Today both currency pairs are rising, though. From the data front, the CPI in December in the eurozone will be published. Anyway, let’s move on to the analysis:
EURUSD
The EURUSD dropped significantly yesterday. The price finished the session slightly below the S1 support level, a little above 1.079. However, it is rising today. If the buyers continue generating firm demand, the price might go up high above the R1 resistance level and reach 1.087. But if the bears counterattack, the price could drop to 1.082.
GBPUSD
The GBPUSD rose strongly yesterday. The price finished the session above 1.228. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above 1.235 today. But if the bears counterattack, the price could return below 1.229.
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