Yesterday, both EURUSD and GBPUSD finally rose strongly. The GBPUSD even rose above 1.37. Today, the GBPUSD is still rising and the EURUSD is showing mixed sentiment. From the data front, all eyes will be focused on European Central Bank interest rate decision and the press conference. Anyway, let’s move on to the analysis:
The EURUSD finally managed to rise significantly yesterday. The price finished the session above the EMA 200 and slightly below 1.18. Today, it is showing mixed sentiment. Right now the bulls are trying to attack 1.18. If they do it successfully, the price might reach the R1 resistance level today. But if they fail, the price could drop below the Pivot Point.
The GBPUSD rose strongly yesterday. The price finished the session above 1.371. Today, it is rising even more. If the buyers continue generating firm demand, the price might even reach 1.38 today. But if the bears counterattack, the price could drop to the EMA 77.