Yesterday both EURUSD and GBPUSD rose significantly. Today both Forex pairs are going up even more. From the data front, all eyes will be focused on the Bank of England interest rate decision and the press conference. Anyway, let’s move on to the analysis:

EURUSD

The EURUSD rose significantly yesterday. The price finished the session above the R1 resistance level and 1.103. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above today’s R1 and 1.107. But if the bears counterattack, the price could drop below 1.101.

EURUSD

GBPUSD

The GBPUSD also rose strongly yesterday. The price finished the session above 1.314. Today it is going up even more. If the buyers continue generating firm demand, the price might reach 1.32 today. But if the bears counterattack, the price could drop below 1.315.

GBPUSD