Yesterday both EURUSD and GBPUSD went down. Today both currency pairs are rising strongly, though. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD went down yesterday. The price finished the session a little above 1.032. Today, it is rising, though. Right now the bulls are attacking the R2 resistance level and 1.04. If they do it successfully, the price might go up above 1.042 today. But if they fail, the price could drop below 1.037 and today’s R1.
The GBPUSD also went down yesterday. The price finished the session slightly above the EMA 77 and 1.175. Today, it is rising, though. The price is already above 1.182. If the buyers continue generating firm demand, the price might go up above 1.187 today. But if the bears counterattack, the price could return below 1.179.