Yesterday both EURUSD and GBPUSD rose strongly. Today both Forex pairs are going up even more. From the data front, all eyes will be focused on the European Central Bank meeting and monetary policy statement. Anyway, let’s move on to the analysis:

EURUSD

The EURUSD rose strongly yesterday. The price finished the session above the R1 resistance level, a little below 1.089. Today it is going up even more. The price is already above 1.091. If the buyers continue generating firm demand, the price might rise high above today’s R1 and reach 1.093. But if the bears counterattack, the price could return below 1.09.

EURUSD

GBPUSD

The GBPUSD also rose strongly yesterday. The price finished the session above 1.311. Today it is going up even more. If the buyers continue generating firm demand, the price might reach 1.316. But if the bears counterattack, the price could drop to 1.31.

GBPUSD