Yesterday the EURUSD rose a bit, but the British pound showed real strength. The GBPUSD went up significantly and finished the session above 1.383. Today both Forex pairs are rising even more. From the data front, the PPI in August in the US will be published. Anyway, let’s move on to the analysis:

EURUSD

The EURUSD managed to rise slightly yesterday. The price finished the session at the Pivot Point. Today it is going up even more. If the buyers continue generating firm demand, the price might reach the R2 resistance level today. But if the bears counterattack, the price could drop below the Pivot Point.

EURUSD

GBPUSD

The GBPUSD rose strongly yesterday. The price finished the session above 1.383. Today it is rising even more. If the buyers continue generating firm demand, the price might even reach 1.39 today. But if the bears counterattack, the price could drop to the EMA 77.

GBPUSD