Yesterday, both EURUSD and GBPUSD showed mixed sentiment. The volatility was quite low as well. However, the EURUSD is rising strongly today. The GBPUSD is also going up, but at a much slower pace. How far those Forex pairs can go? Let’s try to answer that question in an analysis:
Yesterday was a totally boring session. The EURUSD showed mixed sentiment and the volatility was very low. However, the price is rising strongly today. It’s already above the R2 resistance level and it’s testing the EMA 200 right now. If the buyers continue generating firm demand, the price might even reach the R3 today. But if the bears counterattack, the price could return to the Pivot Point.
Yesterday the GBPUSD showed mixed sentiment as well. First the price dropped to 1.352, but in the afternoon it managed to rise and finished the day close to the EMA 77. During today’s Asian trading session the price went up above 1.36, but now the bears are trying to return below the EMA 77. If the bulls take control over the market, the price might even rise to 1.365 today. But if the bears beat the EMA 77, the price could fall below 1.355 once again.