Yesterday both EURUSD and GBPUSD went down. Today the EURUSD is showing mixed sentiment, but the GBPUSD is rising, though. 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 rose significantly. The price even reached the R1 resistance level and 1.073 in the morning. Then, at the beginning of the European trading session, it started falling heavily. The price even dropped below the S1 support level and 1.067 in the early afternoon. After that, at the beginning of the American trading session, it started going up once again. In consequence, the EURUSD finished the day slightly above 1.069.
During the first hours of today’s Asian trading session, the price managed to rise above 1.07. Then it started falling. The price even dropped below 1.067 in the morning. However, at the beginning of the European trading session, it started going up once again. If the buyers continue generating sufficient demand, the price might even rise above the EMA 200. But if the bears counterattack, the price could return below 1.067.
GBPUSD
The GBPUSD also was really volatile yesterday. First, the price managed to rise above 1.245. Then, in the morning, it started falling heavily. The price even dropped below 1.24 in the early afternoon. After that, at the beginning of the American trading session, it started going up once again. However, in the evening, the price started falling one more time. In consequence, the GBPUSD finished the session a little below 1.242.
During the first hours of today’s Asian trading session, the price managed to rise above 1.243. Then it started falling. The price even dropped below 1.24 in the morning. However, at the beginning of the European trading session, it started going up once again. The price is already above 1.244. If the buyers continue generating sufficient demand, the price might even reach 1.247 today. But if the bears counterattack, the price could return below the EMA 77.
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