Yesterday both EURUSD and GBPUSD rose significantly. Today the GBPUSD is still going up, but the EURUSD is showing mixed sentiment. From the data front, the manufacturing PMI will be published in the Eurozone, UK and the US. Anyway, let’s move on to the analysis:
The EURUSD rose significantly yesterday. The price finished the session slightly below 1.041. Today it is showing mixed sentiment. If the buyers show their strength once again, the price might even go up above 1.046 today and even reach the R1 resistance level. But if the bears take control over the market, the price could drop below 1.038 and reach the Pivot Point.
The GBPUSD also rose significantly yesterday. The price finished the session slightly below 1.206. Today it is going up even more. The price is already above 1.21. If the buyers continue generating firm demand, the price might reach 1.213 today. But if the bears counterattack, the price could return below 1.207.