Yesterday the EURUSD showed mixed sentiment and the GBPUSD rose significantly. Today both currency pairs are going up even more. From the data front, the CPI and core CPI in the US in June will be published. Anyway, let’s move on to the analysis:
EURUSD
Yesterday was a really interesting session. First, during the Asian trading session, the EURUSD rose above the R1 resistance level and 1.102. Then, at the beginning of the European trading session, the price started falling. It even dropped below the Pivot Point and 1.098 in the afternoon. After that, at the beginning of the American trading session, the price started rising once again. In consequence, the EURUSD finished the day slightly below 1.101.
During today’s Asian trading session, the price rose above today’s R1 and 1.103. Then, in the morning, it started falling a bit, though. If the buyers don’t generate some serious appetite soon, the price could drop below 1.101 and reach the Pivot Point. But if they do, the price might even reach 1.105 today.
GBPUSD
The GBPUSD was much stronger yesterday. After rising significantly for many hours, the price finished the session a little below 1.293. During the first hours of today’s Asian trading session, it went up above 1.296. After that, the price started falling. If the buyers don’t generate some serious appetite soon, the price could drop below 1.291 and reach the EMA 77. But if they do, the price might even reach 1.298 today.
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