Yesterday both EURUSD and GBPUSd rose strongly. Today the EURUSD is going up even more, but the GBPUSD is showing mixed sentiment. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Yesterday was a great, bullish session. First, during the early hours of the Asian trading session, the EURUSD dropped below the Pivot Point and 1.103, though. Then, the price started rising strongly. It even went up above the R3 resistance level and 1.112 in the afternoon. After that, the price started falling slowly. In consequence, the EURUSD finished the session a little above the R3, slightly below 1.111.
Today, the price is rising slowly. If the buyers continue generating sufficient demand, the price might go up above 1.113 today. But if the bears counterattack, the price could even drop below 1.109 and reach the Pivot Point.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the Asian trading session, the price managed to rise above 1.273. Then, at the beginning of the European trading session, it started falling. 90 minutes later the price even dropped below the EMA 77 and 1.27. After that, it started rising strongly. In consequence, the GBPUSD finished the session at 1.28.
During today’s Asian trading session, the price managed to rise above 1.282. Then, at the beginning of the European trading session, it started falling. If the buyers don’t generate some serious appetite soon, the price could even reach the EMA 77 and 1.277. But if they do, the price might go up above 1.283 today.
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