Yesterday both EURUSD and GBPUSD managed to rise. However, both currency pairs are going down today. From the data front, all eyes will be focused on the ECB interest rate decision and the press conference. Anyway, let’s move on to the analysis:
EURUSD
The EURUSD rose strongly yesterday. The price finished the session high above the R1 resistance level, exactly at 1.00. However, it is going down today. If the buyers don’t generate some serious appetite soon, the price could drop below 0.997 and reach the Pivot Point. But if they do, the price might rise above 1.001.
GBPUSD
The GBPUSD also managed to rise yesterday. The price finished the session above 1.153. However, it is going down today. If the buyers don’t generate some serious appetite soon, the price could even drop below 1.146. But if they do, the price might return above the EMA 77 and 1.15.
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