On Friday both EURUSD and GBPUSD dropped significantly. Today both currency pairs are rising, though. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
The EURUSD dropped significantly on Friday. The price finished the last session of the week a little below the S1 support level, slightly below 1.018. However, it is rising today. The price is already above 1.02. If the buyers continue generating firm demand, the price might reach 1.023 today. But if the bears counterattack, the price could go down below the Pivot Point and 1.019.
GBPUSD
The GBPUSD also dropped heavily on Friday. The price finished the last session of the week slightly below 1.207. However, it is rising today. If the buyers continue generating firm demand, the price might reach 1.216 today. But if the bears counterattack, the price could return below 1.207.
SSL Secured