Yesterday, both EURUSD and GBPUSD showed mixed sentiment. Today, both Forex pairs are rising slowly. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD showed mixed sentiment yesterday. The bulls tested the R1 resistance level first, but then the price dropped and finished the session at the Pivot Point. Today, the price is rising slowly. It’s already above the Pivot Point. If the buyers continue generating sufficient demand, the price might rise above the R1 and reach 1.19. But if the bears counterattack, the price could fall below the EMA 200 and the S1 support level.
The GBPUSD also showed mixed sentiment yesterday. The bulls weren’t strong enough to stay above the EMA 77 and 1.39, so the price dropped a bit and finished the session a little above 1.388. However, the price is rising significantly today. If the buyers continue generating firm demand, the price might even reach 1.395. But if the bears counterattack, the price could return below the EMA 77 and 1.39.