Market Outlook – EURUSD and GBPUSD

Yesterday 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 yesterday. The price finished the session high above the R2 resistance level, at 1.099. Today it is going up even more. If the buyers continue generating sufficient demand, the price might rise above 1.101 today. But if the bears counterattack, the price could drop below 1.098.

GBPUSD

The GBPUSD also rose strongly yesterday. The price finished the session at 1.248. Today it is going up even more. If the buyers continue generating sufficient demand, the price might reach 1.252 today. But if the bears counterattack, the price could return below 1.249.

Trader2023-04-13T10:55:48+01:00

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Market Outlook – EURUSD and GBPUSD