On Friday both EURUSD and GBPUSD rose significantly. Today both currency pairs are going up even more. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
The EURUSD rose significantly on Friday. The price finished the last session of the week exactly at the R1 resistance level, slightly above 1.004. Today it is going up even more. The price is already above today’s R2 and 1.018. If the buyers continue generating firm demand, the price might rise above 1.02 today. But if the bears counterattack, the price could drop below 1.05.
GBPUSD
The GBPUSD also rose significantly on Friday. The price finished the last session of the week at 1.159. Today it is going up even more. The price is already above 1.167. If the buyers continue generating firm demand, the price might rise above 1.17 today. But if the bears counterattack, the price could drop below 1.165.
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