Yesterday both EURUSD and GBPUSD managed to rise. Today, both Forex pairs are going up even more. From the data front, the U.S. Federal Open Market Committee (FOMC) minutes from the last meeting will be published. Anyway, let’s move on to the analysis:
The EURUSD rose significantly yesterday. The price finished the session at the R1 resistance level, above 1.135. Today it is going up even more. The price is already above today’s R1. If the buyers continue generating firm demand, the price might reach today’s R2 and 1.14. But if the bears counterattack, the price could drop to the EMA 200.
The GBPUSD went up a bit yesterday. The price finished the session slightly above the EMA 77, a little below 1.354. Today it is rising even more. If the buyers continue generating firm demand, the price might go up above 1.358 today. But if the bears counterattack, the price could drop below the EMA 77.