Yesterday, both EURUSD and GBPUSD went up strongly. The EURUSD finished the session high above 1.21 and the GBPUSD ended the day above 1.393. Today the GBPUSD is still rising. but the EURUSD is going down a bit. From the data front, the GDP in Q1 in the US will be published. Anyway, let’s start the analysis:
Yesterday was a great bullish session for the EURUSD. The price rose strongly and finished the day above the R2 resistance level. During the first hours of today’s Asian trading session, it was rising even more, but then it started falling. If the buyers don’t generate some serious appetite soon, the price could drop below the Pivot Point and 1.21. But if they do, the price might even rise above 1.215.
The GBPUSD also rose strongly yesterday. The price finished the session above 1.393. Today, it is rising even more. If the buyers continue generating firm demand, the price might even reach 1.40 in the next hours. But if the bears counterattack, the price could drop near the EMA 77.