On Friday both EURUSD and GBPUSD rose strongly. Today both currency pairs are going up even more. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
The EURUSD rose strongly on Friday. The price finished the last session of the week high above the R1 resistance level, slightly above 1.064. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above today’s R1 and even reach 1.072. But if the bears counterattack, the price could return below 1.067.
GBPUSD
The GBPUSD also rose strongly on Friday. The price finished the last session of the week slightly above 1.209. Today it is going up even more. If the buyers continue generating firm demand, the price might even reach 1.22 today. But if the bears counterattack, the price could return below 1.214.
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