Yesterday the EURUSD dropped a bit, but the GBPUSD rose significantly and finished the session above 1.36. Today, both currency pairs are going up, though. From the data front, existing home sales in January in the US will be published. Anyway, let’s move on to the analysis:
EURUSD
The EURUSD dropped a bit yesterday, The price finished the session at the EMA 200, a little above 1.136. However, it is rising today. If the buyers continue generating firm demand, the price might even reach the R1 resistance level today. But if the bears counterattack, the price could fall below the Pivot Point.
GBPUSD
The GBPUSD rose significantly yesterday. The price finished the session above 1.361. Today it is going up even more. If the buyers continue generating firm demand, the price might reach 1.365 today. But if the bears counterattack, the price could fall to the EMA 77 and 1.36.
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