Yesterday both EURUSD and GBPUSD rose strongly. Today both currency pairs are showing mixed sentiment. From the data front, all eyes will be focused on the European Central Bank interest rate decision and press conference. Anyway, let’s move to the analysis:
EURUSD
The EURUSD rose strongly yesterday. After going up all day, the price finished the session above the R2 resistance level, at 1.106. During today’s Asian trading session, it was rising even more and even reached 1.109. However, at the beginning of the European trading session, the price started going down. If the buyers don’t generate some serious appetite soon, the price could drop below the Pivot Point and reach 1.105 today. But if they do, the price might return above 1.108.
GBPUSD
The GBPUSD also rose strongly yesterday. After going up all day, the price finished the session slightly above 1.256. During today’s Asian trading session, it was rising even more and even reached 1.259. However, at the beginning of the European trading session, the price started going down. If the buyers don’t generate some serious appetite soon, the price could drop to the EMA 77 and 1.254 today. But if they do, the price might return above 1.258.
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