Yesterday was an extremely volatile session. In the end, both EURUSD and GBPUSD showed mixed sentiment. Today the EURUSD is going down, but the GBPUSD is still showing mixed sentiment. What can they do next? Let’s try to answer that question in an analysis:
The volatility was extremely high yesterday. First the EURUSD went down heavily and tested the S2 support level. Then it rose high above the R2 resistance level. In the afternoon, it dropped one more time and finished the session a little above the Pivot Point, slightly below 1.143. Today the price is falling, though. If the buyers don;t generate some serious appetite soon, the price could drop below 1.137 today. But if they do, the price might go up above the EMA 200.
The GBPUSD was also shockingly volatile yesterday. First the price rose high above 1.364. Then it went down heavily and finished the session slightly below the EMA 77, above 1.355. During today’s Asian trading session the price dropped below 1.352, but in the morning it started going up strongly. Right now it is above the EMA 77 and 1.355. If the buyers continue generating sufficient demand, the price might even reach 1.36 today. But if the bears counterattack, the price could fall to 1.351.