Yesterday both EURUSD and GBPUSD rose significantly once again. Today the GBPUSD is going up even more, but the EURUSD is showing mixed sentiment. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Yesterday was an amazing bullish session. After rising strongly for many hours, the EURUSD finished the day high above the R3 resistance level, slightly below 1.113. During the first hours of today’s Asian trading session, the price went up above 1.114. Then, in the morning, it returned below 1.113. Right after that, the price started rising once again. If the buyers continue generating sufficient demand, the price might go up above 1.116 today. But if the bears counterattack, the price could drop to 1.111.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the early hours of the Asian trading session, the price rose above 1.296. Then, in the morning, it started falling. The price even dropped below the EMA 77 and 1.291 in the early afternoon. Right after that, it started rising once again. In consequence, the GBPUSD finished the session slightly below 1.299.
During the early hours of today’s Asian trading session, the price went up above 1.301. Then, in the morning, it returned below 1.299. Right after that, the price started rising once again. It is already above 1.302. If the buyers continue generating firm demand, the price might even reach 1.305 today. But if the bears counterattack, the price could drop to 1.298.
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