Yesterday, both EURUSD and GBPUSD finally managed to rise. The EURUSD even finished the session above the R1 resistance level. Today, the EURUSD is going down a bit and the GBPUSD is showing mixed sentiment. From the data front, the PPI index in July will be published in the US. Anyway, let’s move on to the analysis:
EURUSD
The EURUSD finally rose significantly yesterday. The price finished the session above the R1 resistance level. Today, the price is going down a bit, though. Right now the bulls are defending the Pivot Point. If they do it successfully, the price might rise to the EMA 200. But if they fail, the price could even drop to the S1 support level.
GBPUSD
The GBPUSD also rose significantly yesterday. The price finished the session above the EMA 77 and 1.386. Today it is showing mixed sentiment. If the bulls show their strength once again, the price might reach 1.39. But if the bears take control over the market, the price could drop below the EMA 77.
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