On Friday the EURUSD showed mixed sentiment, but the GBPUSD managed to rise. Today both currency pairs are falling, though. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Friday was a really interesting session. First, the EURUSD dropped below the S2 support level and 1.088. Then, at the beginning of the American trading session, the price started rising significantly. 90 minutes later, it even went up above the R1 resistance level and 1.099. After that, the price started falling once again. In consequence, the EURUSD finished the last session of the week slightly below the Pivot Point and 1.094.
During the first hours of today’s Asian trading session, the price managed to rise above 1.095. Then, it started falling. If the buyers don’t generate some serious appetite soon, the price could even drop below 1.09 today. But if they do, the price might return above 1.095 and reach the EMA 200 today.
GBPUSD
The GBPUSD was even more volatile on Friday. First, the price reached 1.261. Then, at the beginning of the American trading session, it started rising strongly. Two hours later, the price even reached 1.277. After that, it started falling once again. In consequence, the GBPUSD finished the last session of the week a little below 1.272.
Today, the price is falling even more. It is already below the EMA 77 and 1.27. If the buyers don’t generate some serious appetite soon, the price could even drop to 1.266 today. But if they do, the price might rise above 1.272.
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