Yesterday the EURUSD showed mixed sentiment, but the GBPUSD dropped heavily. Today both currency pairs are going down. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Yesterday was a really interesting session. First, the EURUSD managed to rise above the Pivot Point and 1.074. Then, in the early afternoon, the price started falling. It even dropped to 1.07 at the beginning of the American trading session. After that, the price started going up once again, In consequence, the EURUSD finished the day slightly above 1.072
During today’s Asian trading session, the price rose above 1.073. Then, in the morning, it started falling. If the buyers don’t generate some serious appetite soon, the price could drop below today’s S1 support level and 1.07. But if they do, the price might return above the Pivot Point and 1.073.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the early hours of the Asian trading session, the price dropped below 1.255. Then, it started rising. The price even went up above the EMA 77 and 1.258 in the morning. After that, at the beginning of the European trading session, it started falling. The price even dropped below 1.249 at the beginning of the American trading session. Right after that, it started rising once again though. In consequence, the GBPUSD finished the day a little below 1.25
Today, the price is falling, though. It is already below 1.248. If the buyers don’t generate some serious appetite soon, the price could even drop below 1.245 today. But if they do, the price might return above 1.249.
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