Yesterday, both EURUSD and GBPUSD rose strongly once again. The EURUSD finished the session high above the R1 resistance level and the GBPUSD went up above 1.396. Today both currency pairs are showing mixed sentiment. From the data front, the CPI index in July will be published in the Eurozone. Anyway, let’s start the analysis:
EURUSD
Yesterday was another great bullish session for the EURUSD. The price rose high above the R1 resistance level. During today’s Asian trading session the price dropped a bit, but this morning it started going up. If the buyers continue generating sufficient demand, the price might rise above 1.19 today. But if the bears counterattack, the price could fall to the Pivot Point.
GBPUSD
The GBPUSD also rose strongly yesterday. The price finished the session above 1.396. During today’s Asian trading session the price dropped to the EMA 77, but this morning it started going up once again. If the buyers continue generating sufficient demand, the price might even reach 1.40 today. But if the bears counterattack, the price could fall below the EMA 77.
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