Yesterday both EURUSD and GBPUSD rose strongly. Today the EURUSD is showing mixed sentiment, but the GBPUSD is falling. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Yesterday was a great, bullish session. After rising strongly for many hours, the EURUSD rose above the R4 resistance level and 1.088. Then, during the last two hours of yesterday’s session, it dropped a bit. In consequence, the price finished the day slightly above 1.087.
During today’s Asian trading session, the EURUSD managed to rise above 1.088. Then, it started falling slowly. The volatility is rather low, though. If the buyers don’t generate some serious appetite soon, the price could drop below 1.085 today. But if they do, the price might go up above 1.089.
GBPUSD
GBPUSD also was really bullish yesterday. After rising strongly for many hours, the price reached 1.25. Then, during the last two hours of yesterday’s session, it dropped a bit. In consequence, the price finished the day slightly below 1.249.
During today’s Asian trading session, the GBPUSD is falling. It is already below 1.247. If the buyers don’t generate some serious appetite soon, the price could drop below 1.243 today. But if they do, the price might reach 1.249.
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