Yesterday, both EURUSD and GBPUSD showed mixed sentiment and the volatility didn’t increase. Today, both Forex pairs are rising, though. From the data front, the CPI in the Eurozone in August and CB consumer confidence in the US, also in August, will be published. Anyway, let’s start the analysis:
The EURUSD showed mixed sentiment yesterday and the volatility did not increase. The price finished the session very close to 1.18. Today the price is rising strongly, though. It’s already above the R2 resistance level. If the buyers continue generating firm demand, the price might reach 1.184 today. But if the bears counterattack, the price could drop to the R1.
The GBPUSD also showed mixed sentiment yesterday. However, the price is rising strongly today. If the buyers continue generating firm demand, the price might rise above 1.38. But if the bears counterattack, the price could drop to the EMA 77.