On Friday both EURUSD and GBPUSD went down significantly. Today, both Forex pairs are rising slightly, though. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD dropped heavily on Friday. The price finished the last session of the week at the EMA 200, a little above the S2 support level and 1.141. Today, it is rising slowly. Right now the bulls are attacking the Pivot Point. If they do it successfully, the price might go up above 1.145 today and even reach the R1 resistance level. But if they fail, the price could fall below the EMA 200 and 1.14.
The GBPUSD also dropped significantly on Friday. The price finished the week at 1.367. Today it is rising slowly, though. Right now the bulls are attacking the EMA 77. If they do it successfully, the price might reach 1.37 today. But if they fail, the price could fall below 1.365.