On Friday both EURUSD and GBPUSD rose strongly. Today, both currency pairs are going down, though. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Friday was a great bullish session for the EURUSD. The price rose high above the R2 resistance level and finished the last session of the week at 1.136. However, it is falling today. If the buyers don’t generate some serious appetite soon, the price could drop below the S1 support level and reach 1.13. But if they do, the price might return above the Pivot Point and 1.34.
GBPUSD
The GBPUSD also rose strongly on Friday. The price finished the last session of the week slightly above 1.359. However, it is falling today. If the buyers don’t generate some serious appetite soon, the price could drop below the EMA 77 and 1.355. But if they do, the price might reach 1.36 today.
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