On Friday both EURUSD and GBPUSD managed to rise. Today both currency pairs are going up even more. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Friday was a really interesting session. First, during the Asian trading session, the EURUSD dropped below 1.082 and reached the S1 support level. Then, at the beginning of the European trading session, it started rising significantly. In consequence, the price finished the day above the R1 resistance level and 1.09.
During today’s Asian trading session, the EURUSD went up above 1.093. Then, the price started falling. At the beginning of the European trading session, it started rising once again, though. If the buyers continue generating sufficient demand, the price might go up above today’s R1 and 1.094. But if the bears counterattack, the price could drop below 1.09 today.
GBPUSD
The GBPUSD also was really volatile on Friday. First, during the Asian trading session, the price dropped below 1.238. Then, at the beginning of the European trading session, it started rising significantly. In consequence, the price finished the day at 1.246.
During today’s Asian trading session, the GBPUSD went up above 1.249. Then, the price started falling. At the beginning of the European trading session, it started rising once again, though. If the buyers continue generating sufficient demand, the price might go up above 1.251 today. But if the bears counterattack, the price could drop to 1.245.
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