Yesterday both EURUSD and GBPUSd rose strongly. Today both Forex pairs are going up even more. What can they do next? Let’s try to answer that question in an analysis:

EURUSD

The EURUSD rose strongly yesterday. The price finished the session a little below the R3 resistance level, slightly above 1.069. Today it is going up even more. The bulls are attacking today’s R1 right now. If they do it successfully, the price might reach 1.075 today. But if the bears counterattack, the price could drop below 1.069.

EURUSD

GBPUSD

The GBPUSD also rose strongly yesterday. The price finished the session above 1.258. Today it is going up even more. If the buyers continue generating sufficient demand, the price might rise above 1.261 today. But if the bears counterattack, the price could drop below 1.255 and reach the EMA 77.

GBPUSD