On Friday both EURUSD and GBPUSD rose strongly. The EURUSD even finished the last session of the week above the R2 resistance level. Today both Forex pairs are showing mixed sentiment. From the data front, pending home sales in July in the US will be published. Anyway, let’s start the analysis:
Friday was a fantastic bullish session for the EURUSD. The price finished the day above the R2 resistance level, slightly below 1.18. Today the price is showing mixed sentiment. If the buyers show the strength once again, the price might rise high above 1.18. But if the bears take control over the market, the price could drop to the Pivot Point.
The GBPUSD also rose strongly yesterday. The price finished the week above 1.376. Today it is showing mixed sentiment, though. If the buyers show the strength once again, the price might rise above 1.378. But if the bears take control over the market, the price could drop below the EMA 77.