Yesterday both EURUSD and GBPUSD rose strongly. Today both Forex pairs are going up even more. From the data front, the CPI in the Eurozone in June will be published. Anyway, let’s move n to the analysis:

EURUSD

The EURUSD rose strongly yesterday. The price finished the session slightly below the R2 resistance level and 1.015. Today it is going up even more. The price is already above today’s R1 and 1.02. If the buyers continue generating firm demand, the price might reach 1.024 today. But if the bears counterattack, the price could drop to 1.017.

EURUSD

GBPUSD

The GBPUSD also rose significantly yesterday. The price finished the session a little above 1.195. Today it is going up even more. Right now the bulls are attacking 1.20. If they do it successfully, the price might even reach 1.204 today. But if they fail, the price could drop below 1.197.

GBPUSD