Yesterday the EURUSD showed mixed sentiment, but the GBPUSD went down. Today both currency pairs are showing mixed sentiment. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Yesterday was a really interesting session. First, the EURUSD rose above the Pivot Point and 1.094. Then, in the afternoon, the price started falling. 30 minutes later it even dropped below the S1 support level and 1.09. After that, the price started rising once again. In consequence, the EURUSD finished the session slightly below the Pivot Point and 1.093.
During today’s Asian trading session, the price dropped below the Pivot Point. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating sufficient demand, the price might go up above 1.094 and reach today’s R1 resistance level. But if the bears counterattack, the price could drop below the Pivot Point and reach 1.091.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the Asian trading session, the price rose above the EMA 77 and 1.282. Then, in the morning, it started falling. The price even dropped below 1.275 at the beginning of the American trading session. After that, it started rising once again. In consequence, the GBPUSD finished the day a little above 1.279.
During today’s Asian trading session, the price dropped below 1.278. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating sufficient demand, the price might even go up above 1.283 today. But if the bears counterattack, the price could drop below 1.277.
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