Yesterday, both EURUSD and GBPUSD rose strongly. The GBPUSD finished the session at 1.39. Today, both Forex pairs are still going up significantly. From the data front, the GDP in Q2 in the US will be published. Anyway, let’s move on to the analysis:
Yesterday was another bullish session for the EURUSD. The price rose strongly and finished the day above 1.184. Today, the price is still going up. Right now the bulls are getting close to the R1 resistance level. If they continue generating firm demand, the price might rise high above that level today. But if they fail, the price could drop to the Pivot Point.
The GBPUSD also rose significantly yesterday. The price finished the session at 1.39. Today, it is still rising strongly. If the buyers continue generating firm demand, the price might rise above 1.395 today. But if the bears counterattack, the price could drop to the EMA 77.