Yesterday, both EURUSD ang GBPUSD went up significantly. The EURUSD finished the day a little below the R1 resistance level and the GBPUSD rose above 1.39. Today, both Forex pairs are still rising strongly. From the data front, all eyes will be focused on the European Central Bank, because it will hold a meeting on monetary policy. Anyway, let’s start the analysis.

EURUSD

The EURUSD rose strongly yesterday. The price finished the day a little below the R1 resistance level. Today, it is rising even more. The price is already significantly above the latest R1. If the buyers continue generating such a firm demand, the price might even reach 1.20 today. But if the bears counterattack, the price could drop to the EMA 200.

EURUSD - 11.03.2021

GBPUSD

The GBPUSD was also very strong yesterday. The price finished the day significantly above 1.39. Today, it is rising even more. If the bulls continue generating firm demand, the price might reach 1.40 today. But if the bears counterattack, the price could drop to the EMA 77.

GBPUSD - 11.03.2021