Yesterday both EURUSD and GBPUSD rose significantly. However,both currency pairs are going down today. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD rose significantly yesterday. The price finished the session slightly below 1.002. However, it is going down today. Right now the bulls are trying to defend the Pivot Point and 0.999. If they do it successfully, the price might rise above 1.002. But if they fail, the price could drop below 0.997.
The GBPUSD also rose strongly yesterday. The price finished the session a little above 1.15. However, it is going down today. If the buyers don’t generate some serious appetite soon, the price could drop below the EMA 77 and even reach 1.14. But if they do, the price might return above 1.15.