Yesterday the EURUSD slightly rose and the GBPUSD dropped a bit. Today both EURUSD and GBPUSD are rising, though. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD managed to rise a bit yesterday. The price finished the session exactly at the Pivot Point, a little below 1.079. Today it is going up even more. Right now the bulls are attacking the R1 resistance level. If they do it successfully, the price might reach 1.083 today. But if they fail, the price could drop below the EMA 200 and 1.08.
The GBPUSD dropped a bit yesterday. The price finished the session slightly below 1.30. However, it is rising today. The price is already above 1.301. If the buyers continue generating sufficient demand, the price might even reach 1.305 today. But if the bears counterattack, the price could return below 1.30.