On Friday the EURUSD went down, but the GBPUSD managed to rise. Today the EURUSD is going up and the GBPUSD is showing mixed sentiment. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD showed some real weakness on Friday. After going down almost the whole day, the price finished the last session of the week significantly below the Pivot Point, slightly above 1.074. During the early hours of today’s Asian trading session, it dropped below the EMA 200. Then, the price started rising, though. It is already above 1.075. If the buyers continue generating firm demand, the price might even reach 1.077 and the R1 resistance level. But if the bears counterattack, the price could fall to the EMA 200.
The GBPUSD was really volatile on Friday. First, in the morning, the price dropped below 1.254. Then, at noon, it started rising significantly. The price even went up above 1.258 in the afternoon. After that, it went down a bit, though. In consequence, the price finished the last session of the week slightly below 1.258.
Today the GBPUSD is showing mixed sentiment. The volatility is rather low, though. If the buyers take control over the market, the price might even reach 1.26 today. But if the bears show their strength, the price could drop to the EMA 77.