Market Outlook – EURUSD and GBPUSD

Yesterday both EURUSD and GBPUSD rose significantly. Today both currency 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 significantly yesterday. The price finished the session a little above the R1 resistance level and 1.091. Today it is going up slowly. If the buyers continue generating sufficient demand, the price might reach 1.093 today. But if the bears counterattack, the price could drop to 1.09 and the Pivot Point.

GBPUSD

The GBPUSD also rose strongly yesterday. The price finished the session slightly below 1.24. Today it is going up even more. If the buyers continue generating firm demand, the price might even reach 1.244 today. But if the bears counterattack, the price could drop below 1.239.

Trader2023-02-21T08:42:03+00:00

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Market Outlook – EURUSD and GBPUSD