Yesterday both EURUSD and GBPUSD rose strongly. Today the GBPUSD is going up even more, but the EURUSD is showing mixed sentiment. From the data front, the minutes of the European Central Bank’s last meeting will be published. Anyway, let’s move on to the analysis:
The EURUSD rose strongly yesterday. The price finished the session high above the R2 resistance level, slightly below 1.04. Today it is showing mixed sentiment, though. During the first hours of the Asian trading session the price went up above 1.044, but then it started falling. Right now the bulls are trying to defend 1.04. If they do it successfully, the price might return above 1.043. But if they fail, the price could drop below the Pivot Point and reach 1.036.
The GBPUSD also rose strongly yesterday. The price finished the session slightly below 1.205. Today it is going up even more. If the buyers continue generating firm demand, the price might rise above 1.213 today. But if the bears counterattack, the price could drop below 1.207.