Yesterday both EURUSD and GBPUSD went down. Today, both currency pairs are rising, though. From the data front, the European Central Bank will publish the minutes of its last month’s meeting. Anyway, let’s move on to the analysis:
EURUSD
The EURUSD dropped deeply yesterday. The price finished the session exactly at the S2 support level and 1.12. However, it is rising strongly today. If the buyers continue generating firm demand, the price might rise high above the R1 resistance level and reach the EMA 200. But if the bears counterattack, the price could fall below 1.12.
GBPUSD
The GBPUSD dropped significantly yesterday. The price finished the session slightly above 1.332. However, it is rising today. Right now the bulls are getting close to the EMA 77. If they continue generating firm demand, the price might go up above 1.337 today. But if the bears counterattack, the price could fall below 1.33.
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