On Friday, both EURUSD and GBPUSD managed to rise. The GBPUSD even finished the week above 1.383. Today, both currency pairs are showing mixed sentiment. From the data front, composite PMI and services PMI will be published in the UK today. Anyway, let’s move on to the analysis:
The EURUSD rose a bit on Friday. The price finished the week above 1.186. Bulls even tested the R1 resistance level and the EMA 200 in the evening, but they weren’t strong enough to beat those levels. Today, the price is showing mixed sentiment. Right now the bulls are attacking the EMA 200. If they do it successfully, the price might rise to today’s R1. But if they fail, the price could fall below the Pivot Point.
The GBPUSD rose strongly on Friday. The price finished the week above 1.383. During today’s Asian trading session, it dropped a bit, but this morning it started rising. If the buyers continue generating sufficient demand, the price might rise above 1.385 today. But it the bears counterattack, the price could fall to the EMA 77.