Yesterday both EURUSD and GBPUSD went down. Today the GBPUSD is still falling, but the EURUSD is rising. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD dropped heavily yesterday. The price finished the session below the S2 support level and 1.083. However, it is rising today. If the buyers continue generating sufficient demand, the price might go up above the Pivot Point and reach 1.085. But if the bears counterattack, the price could fall to 1.08.
The GBPUSD also went down yesterday. The price finished the session exactly at 1.30. Today it is falling even more. If the buyers don’t generate some serious appetite soon, the price could drop below 1.297 today. But if they do, the price might return above 1.30 and reach the EMA 77.