Yesterday the EURUSD rose significantly, but the GBPUSD went down. Today both currency pairs are rising even more. From the data front, all eyes will be focused on the U.S. Federal Open Market Committee’s interest rate decision and the press conference. Anyway, let’s move on to the analysis:
The EURUSD rose strongly yesterday. The price finished the session above the R1 resistance level, a little below 1.077. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above 1.08 today. But if the bears counterattack, the price could drop to the Pivot Point.
The GBPUSD dropped significantly yesterday. The price finished the session a little below the EMA 77, slightly above 1.222. However, it is rising strongly today. If the buyers continue generating firm demand, the price might even reach 1.23. But if the bears counterattack, the price could fall to 1.224.