Yesterday, both EURUSD and GBPUSD rose strongly. The EURUSD finished the session at the R2 resistance level and the GBPUSD went up above 1.38. Today, both Forex pairs are falling significantly, though. From the data front, the CB consumer confidence in the US in July will be published. Anyway, let’s start the analysis:
Yesterday was a great, bullish session for the EURUSD. The price finished the day at the R2 resistance level and 1.18. However, the price is falling significantly today. If the buyers don’t generate some serious appetite soon, the price could drop below the S1 support level. But if they do, the price might return above the Pivot Point and 1.18.
The GBPUSD also rose strongly yesterday. The price finished the session above 1.38. However, it is going down significantly today. The price is already below the EMA 77. If the buyers don’t generate some serious appetite soon, the price could drop below 1.375 today. But if they do, thep price might return above the EMA 77 and 1.38.