Yesterday both EURUSD and GBPUSD dropped heavily. Today, the GBPUSD is falling even more, but the EURUSD is showing mixed sentiment. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Yesterday was a really interesting session. First, during the Asian trading session, the EURUSD managed to rise above the Pivot Point and reached 1.059. Then, at the beginning of the European trading session, it started falling heavily. In consequence, the price finished the day significantly below the S2 support level, slightly below 1.048.
During today’s Asian trading session, the price dropped below 1.046. Then, in the morning, it started rising. If the buyers continue generating sufficient demand, the price might go up above 1.05 today. But if the bears counterattack, the price could fall to 1.045.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the Asian trading session, the price managed to rise above the EMA 77 and 1.221. Then, at the beginning of the European trading session, it started falling heavily. In consequence, the price finished the day slightly below 1.209.
During today’s Asian trading session, the price reached 1.206. Then, in the morning, it started rising slowly. If the buyers continue generating sufficient demand, the price might even reach 1.21 today. But if the bears show their strength, the price could fall below 1.205.
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