Yesterday, both EURUSD and GBPUSD rose significantly. The EURUSD rose above the EMA 200 and the GBPUSD finished the session at 1.385. Today, the EURUSD is showing mixed sentiment and the GPBUSD is falling heavily. From the data front, the Philadelphia Fed Manufacturing Index in July will be published in the US. Anyway, let’s start the analysis:
The EURUSD rose significantly yesterday. It finished the session above the EMA 200 and 1.183. Today, the price is showing mixed sentiment. Right now the bulls are trying to defend the EMA 200. If they do it successfully, the price might rise to the R1 resistance level. But if they fail, the price could fall below the Pivot Point.
The GBPUSD also rose significantly yesterday. The price finished the session above the EMA 77, at 1.385. However, the price is falling deeply today. Right now it is at 1.382. If the buyers don’t generate some serious appetite soon, the price could drop below 1.38 today. But if they do, the price might return above the EMA 77.