Yesterday both EURUSD and GBPUSD dropped significantly once again. Today both Forex pairs are going down even more. What can they do next? Let’s try to answer that question in an analysis:

EURUSD

The EURUSD dropped deeply yesterday. The price finished the session significantly below the S2 support level, slightly below 1.016. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could fall to 1.013 today. But if they do, the price might reach the Pivot Point and 1.019.

EURUSD

GBPUSD

The GBPUSD also dropped heavily yesterday. The price finished the session a little above 1.205. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could even fall below 1.20 today. But if they do, the price might reach 1.207.

GBPUSD