Yesterday both EURUSD and GBPUSD went up strongly. The EURUSD finished the day high above the R2 resistance level and 1.21. The GBPUSD rose above 1.38. Today, both currency pairs are rising even more. From the data front, the CPI and core CPI in January will be published in the US. Anyway, let’s start the analysis:
EURUSD
Yesterday was a great bullish session for the EURUSD. The price finished the day high above the R2 resistance level and 1.21. And today it is rising even more. If the buyers continue generating firm demand, the price might attack 1.215 and hold above it for the rest of the day. But if the bears counterattack, the price could drop to the Pivot Point.
GBPUSD
The British pound sterling was also very strong yesterday. The GBPUSD finished the session above 1.38. Today the price is rising even more. If the buyers continue generating firm demand, the price might even test 1.39 pretty soon. But if the bears counterattack, the price could drop near the EMA 77.
SSL Secured