Yesterday both EURUSD and GBPUSD rose significantly. Today the GBPUSD is going up even more, but the EURUSD is showing mixed sentiment. From the data front, all eyes will be focused on the nonfarm payrolls and unemployment rate in the US in February. Anyway, let’s move on to the analysis:
The EURUSD rose significantly yesterday. The price finished the session above the R1 resistance level, a little above 1.058. Today it is showing mixed sentiment. If the buyers show their strength once again, the price might go up above 1.06 and reach today’s R1. But if the bears take control over the market, the price could drop below the Pivot Point and reach 1.056.
The GBPUSD also rose strongly yesterday. The price finished the session a little above 1.192. Today it is going up even more. If the buyers continue generating firm demand, the price might even reach 1.198 today. But if the bears counterattack, the price could drop to the EMA 77 and 1.19.