On Friday the EURUSD rose significantly, but the GBPUSD showed mixed sentiment. Today, both Forex pairs are rising. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD rose significantly on Friday. The price finished the last session of the week a little above the R1 resistance level.Today it is still rising. The price is already above the EMA 200. If the buyers continue generating sufficient demand, the price might reach today’s R1. But if the bears counterattack, the price could drop below the Pivot Point.
The GBPUSD showed mixed sentiment yesterday. The price finished the week at 1.362. During today’s Asian trading session, the price went up strongly, but this morning it started going down. If the buyers don’t generate some serious appetite soon, the price could drop below the EMA 77 today. But if they do, the price might even rise above 1.368.