Yesterday both EURUSD and GBPUSD rose significantly. Today the EURUSD is still going up, but the GBPUSD is falling. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD rose significantly yesterday. The price finished the session at 1.083. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above the R1 resistance level and reach 1.086. But if the bears counterattack, the price could drop below 1.083.
The GBPUSD also rose significantly yesterday. The price finished the session slightly above 1.238. However, it is going down today. If the buyers don’t generate some serious appetite soon, the price could even drop below 1.232 today. But if they do, the price might rise above 1.24.