Yesterday both EURUSD and GBPUSD rose strongly. Today both currency pairs are going up even more. From the data front, all eyes will be focused on the Nonfarm payrolls and unemployment rate in the US in May. Anyway, let’s move on to the analysis:
EURUSD
The EURUSD rose strongly yesterday. The price finished the session above the R1 resistance level, slightly below 1.075. Today it is going up even more. If the buyers continue generating sufficient demand, the price might reach 1.078 and today’s R1. But if the bears counterattack, the price could drop to 1.072.
GBPUSD
The GBPUSD also rose strongly yesterday. The price finished the session above 1.257. Today it is going up even more. If the buyers continue generating sufficient demand, the price might rise above 1.262 today. But if the bears counterattack, the price could drop below the EMA 77.
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