Yesterday both EURUSD and GBPUSD rose significantly once again. The EURUSD even finished the session at 1.13. Today the EURUSD is showing mixed sentiment and the GBPUSD is going down a bit. From the data front, all eyes will be focused on the Bank of England and European Central Bank meetings and monetary policy decisions – including possible interest rate changes. Anyway, let’s start the analysis:
The EURUSD rose significantly yesterday. The price finished the session above the R1 resistance level, exactly at 1.13. Today it is showing mixed sentiment and the volatility is rather low. If the buyers show their strength once again, the price might reach today’s R1 and 1.133. But if the bears take control over the market, the price could drop to the S1 support level, below 1.127.
The GBPUSD also rose significantly yesterday. The price finished the session above 1.357. However, it is going down today. If the buyers don’t generate some serious appetite soon, the price could drop below the EMA 77 and 1.354. But if they do, the price might even reach 1.36.