Yesterday both EURUSD and GBPUSD managed to rise. However, both currency pairs are falling today. From the data front, there will be many important releases today, but all eyes will be focused on the Bank of England Monetary Policy Committee meeting. Anyway, let’s move on to the analysis:
Yesterday was a good bullish session for the EURUSD. The price rose high above the R1 resistance level and finished the session at 1.161.However, it is falling heavily today. If the buyers don’t generate some serious appetite soon, the price could drop below the S2 support level today. But if they do, the price might reach the EMA 200 and the Pivot Point.
The GBPUSD also rose significantly yesterday. The price finished the session at 1.369. However, it is going down today. The price is already below the EMA 77. If the buyers don’t generate some serious appetite soon, the price could drop to 1.36 today. But if they do, the price might return above the EMA 77.