Yesterday, both EURUSD and GBPUSD rose significantly. The EURUSD even finished the session a little below the R1 resistance level. Today, both currency pairs are showing mixed sentiment. From the data front, the European Central Bank will publish the minutes of its July meeting, when it unveiled updated forward guidance on interest rates and implemented a new monetary policy strategy designed to bolster inflation. Anyway, let’s start the analysis:
EURUSD
The EURUSD managed to rise yesterday. The price finished the session a little below the R1 resistance level, at 1.177. During today’s Asian trading session the price dropped to the Pivot Point, but this morning it started rising. If the buyers continue generating sufficient demand, the price might even reach 1.18 today. But if the bears take control over the market, the price could fall to the EMA 200.
GBPUSD
The GBPUSD also rose significantly yesterday. The price finished the session slightly below 1.376. During today’s Asian trading session the price dropped to the EMA 77, but this morning it started rising a bit. If the buyers show their strength, the price might even reach 1.38 today. But if the bears take control over the market, the price could fall below the EMA 77.
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