Yesterday both EURUSD and GBPUSD managed to rise. The GBPUSD even finished the session above 1.36. Today, the EURUSD is going down, but the GBPUSD is showing mixed sentiment. From the data front, markit composite PMI and services PMI will be published in the Eurozone, UK and the US. Anyway, let’s start the analysis:
The EURUSD managed to rise yesterday. The price finished the session above the R1 resistance level, at the EMA 200. However, it is going down today. Right now the bulls are trying to defend the S1 support level. If they do it successfully, the price might reach the Pivot Point. But if they fail, the price could drop to 1.157.
The GBPUSD rose strongly yesterday. The price finished the session above 1.36. During today’s Asian trading session it slightly dropped, but this morning it started going up once again. If the buyers continue generating sufficient demand, the price might reach 1.365 today. But if the bears show their strength, the price could fall to the EMA 77.