Yesterday both EURUSD and GBPUSD went down. Today the EURUSD is rising and the GBPUSD is showing mixed sentiment. What can they do next? Let’s try to answer that question in an analysis:
Yesterday was a really interesting session. First, the EURUSD dropped below the S1 support level and 1.091. Then, at noon, the price started rising a bit. In consequence, it finished the session a little above 1.092.
During the early hours of today’s Asian trading session, the EURUSD dropped to 1.091. Then the price started rising. If the buyers continue generating firm demand, the price might go up above the R1 resistance level and reach 1.096. But if the bears counterattack, the price could fall below 1.091 and reach today’s S1 support level.
The GBPUSD also showed some weaknesses yesterday. First, the price dropped to 1.277. Then, in the early evening, it started rising. In consequence, the price finished the session a little above the EMA 77, slightly below 1.28.
During today’s Asian trading session, the GBPUSD dropped below 1.278. Then, at the beginning of the European trading session, the price started rising. If the buyers continue generating sufficient demand, the price might reach 1.283 today. But if the bears counterattack, the price could even fall to 1.276.