Yesterday both EURUSD and GBPUSD rose strongly. However ,both Forex pairs are going down today. From the data front, all eyes will be focused on the ECB interest rate decision and the press conference. Anyway, let’s move on to the analysis:

EURUSD

The EURUSD rose strongly yesterday. The price finished the session high above the R2 resistance level, slightly below 1.008. However, it is going down today. If the buyers don’t generate some serious appetite soon, the price could drop below the Pivot Point and reach 1.003. But if they do, the price might rise above 1.009.

EURUSD

GBPUSD

The GBPUSD also rose strongly yesterday. The price finished the session at 1.162. However, it is going down today. If the buyers don’t generate some serious appetite soon, the price could drop below 1.156 and reach the EMA 77. But if they do, the price might rise above 1.165.

GBPUSD