Yesterday, the EURUSD dropped a bit and the GBPUSD rose slightly. Today, the EURUSD is rising and the GBPUSD is showing mixed sentiment. From the data front, investors will be focused on the Bank of England meeting minutes. Anyway, let’s move on to the analysis:
Yesterday was a really interesting session. First the EURUSD tested the R1 resistance level, then it dropped to the Pivot Point. In the end, the price finished the session a little above that level. However, the price is rising slowly today. Right now the bulls are attacking the Pivot Point and the EMA 200. If they do it successfully, the price might even reach the R1 resistance level today. But if they fail, the price could fall to the S1 support level.
The GBPUSD rose a bit yesterday. The price finished the session above 1.395. However, it is showing mixed sentiment today, and the volatility is rather low. If the buyers show their strength, the price might even reach 1.40 today. But if the bears take control over the market, the price could fall below the EMA 77.