On Friday the GBPUSD went down and the EURUSD showed mixed sentiment. Today both currency pairs are rising, though. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Friday was a really interesting session. First, during the Asian trading session, the EURUSD rose above the R1 resistance level and 1.072. Then, at the beginning of the European trading session, the price started falling. It even dropped below 1.07 in the early afternoon. After that, the price started rising once again. It even went up above the EMA 200 and 1.073 at the beginning of the American trading session. Right after that, the price started falling. In consequence, the EURUSD finished the day slightly below 1.07.
After the weekend, the price opened significantly higher and it has been rising since then. It is already above today’s R1 and 1.072. If the buyers continue generating firm demand, the price might even reach 1.075 today. But if the bears counterattack, the price could drop to the Pivot Point.
GBPUSD
The GBPUSD also was really volatile on Friday. First, during the Asian trading session, the price rose above the EMA 77 and 1.25. Then, at the beginning of the European trading session, it started falling. The price even dropped below 1.247 in the early afternoon. After that, it started rising once again. The price even went up above 1.251 at the beginning of the American trading session. Right after that, it started falling. In consequence, the GBPUSD finished the day slightly above 1.245.
After the weekend, the price opened significantly higher and it has been rising since then. It is already above 1.252. If the buyers continue generating firm demand, the price might even reach 1.255 today. But if the bears counterattack, the price could return below 1.25 and reach the EMA 77.
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