Yesterday the EURUSD rose strongly, but the GBPUSD showed mixed sentiment. Today, both currency pairs are going down, though. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD rose strongly yesterday. The price finished the session slightly below the R2 resistance level, exactly at 1.109. However, it is going down today. The price is already below the Pivot Point. Right now it is a little above 1.106. If the buyers don’t generate some serious appetite soon, the price could drop to the S1 support level. But if they do, the price might bounce and even reach 1.11.
The GBPUSD showed mixed sentiment. The price finished the session above 1.314. Today it is going down a bit. Right now the bulls are trying to defend the EMA 77. If they do it successfully, the price might bounce and reach 1.318. But if they fail, the price could drop below 1.31.