Yesterday, both EURUSD and GBPUSD rose strongly. The EURUSD went up above 1.20 and the GBPUSD finished the day a little below 1.40. Today, they are rising even more. How far can they go? Let’s try to answer that question in an analysis:
Yesterday was an amazing bullish session for the EURUSD. The price rose above the R2 resistance level and 1.20. Today it is going up even more. If the buyers continue generating firm demand, the price might attack the R1 today and finish the day close to 1.21. But if the bears finally counterattack, the price could drop to the Pivot Point.
The GBPUSD rose strongly yesterday too. The price finished the day above 1.398. Today it is going up even more, but at a much slower pace. If the buyers continue generating firm demand, the price should rise and hold above 1.40. But if the bears counterattack, the price could drop to the EMA 77.