Yesterday the EURUSD dropped a bit, but the GBPUSD rose strongly. Today, both Forex pairs are going up. From the data front, the ADP nonfarm employment change in the US in December and the U.S. Federal Open Market Committee (FOMC) minutes from the last meeting will be published. Anyway, let’s start the analysis:
The EURUSD dropped a bit yesterday. The price finished the session at 1.128. However, It is rising strongly today. Right now the bulls are attacking the EMA 200. If they do it successfully, the price might go up high above the R1 resistance level and reach 1.133. But if the bears counterattack, the price could return below 1.13.
The GBPUSD rose strongly yesterday. The price finished the session above 1.352. Today it is going up even more. The price is already above 1.355. If the buyers continue generating firm demand, the price might rise above 1.358 today. But if the bears counterattack, the price could drop to 1.353.