On Friday the EURUSD showed mixed sentiment, but the GBPUSD went down. Today both Forex pairs are falling. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD was really volatile on Friday. First the price rose strongly and tested the R1 resistance level. Then, in the afternoon, it dropped significantly and finished the last session of the week below the Pivot Point, slightly above 0.995. Today it is falling even more. Right now the bulls are trying to defend the S1 support level. If they do it successfully, the price might return above 0.994. But if they fail, the price could go down below 0.989.
The GBPUSD went down on Friday. The price finished the last session of the week a little above 1.15. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could drop below 1.145 today. But if they do, the price might return above 1.15.