Yesterday the EURUSD rose strongly, but the GBPUSD showed mixed sentiment. Today the EURUSD is going up even more, but the GBPUSD is falling. From the data front, all eyes will be focused on the Bank of England interest rate decision and press conference. Anyway, let’s move on to the analysis:
EURUSD
Yesterday was a really interesting session. First, during the Asian trading session, the EURUSD showed mixed sentiment. Then, at the beginning of the European trading session, it started rising strongly. In consequence, after going up all day, the price finished the session high above the R2 resistance level, slightly above 1.098.
Today the EURUSD is rising slowly. The price is already above 1.099. If the buyers continue generating sufficient demand, the price might even reach 1.10 today. But if the bears counterattack, the price could drop below 1.098.
GBPUSD
The GBPUSD was even more volatile yesterday. First, during the Asian trading session, the price managed to reach 1.28. Then, at the beginning of the European trading session, it started falling heavily. The price even reached 1.069 at noon. After that, it started going up strongly once again, though. However, it dropped one more time in the evening. In consequence, the GBPUSD finished the session slightly below 1.277.
During today’s Asian trading session, the price dropped below 1.274. However, at the beginning of the European trading session, it started rising. If the buyers continue generating sufficient demand, the price might go up above 1.278 today. But if the bears counterattack, the price could even fall to 1.273.
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