Yesterday, the EURUSD showed mixed sentiment and the GBPUSD rose strongly. Today, both currency pairs are rising significantly, though. The EURUSD is already above the R2 resistance level and the GBPUSD is attacking 1.42. From the data front, building permits in April in the US will be published today. Anyway, let’s start the analysis:
EURUSD
The EURUSD showed mixed sentiment yesterday and the volatility was rather low. However, the price is rising strongly today. It’s already above the R2 resistance level and 1.22. If the buyers continue generating firm demand, the price should stay above 1.22. But if the bears counterattack, the price could drop below the R2.
GBPUSD
The GBPUSD rose significantly yesterday. The price finished the day above 1.413. Today, it is even stronger. Right now the bulls are attacking 1.42. If they do it successfully, the price should stay above that level for the rest of the day. But if they fail, the price could drop to 1.415.
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