Yesterday the EURUSD showed mixed sentiment, but the GBPUSD went down. Today the GBPUSD is falling even more, but the EURUSD is still showing mixed sentiment. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
Yesterday was a really interesting session. First, during the early hours of the Asian trading session, the EURUSD went down below 1.091. Then, in the morning, the price started rising. Three hours later it even reached the R1 resistance level. After that, the price started falling heavily, though. It even dropped below the S1 support level and the EMA 200 in the afternoon. However, in the late afternoon, the price started going up once again. In consequence, the EURUSD finished the session slightly below 1.092.
During today’s Asian trading session, the price went down below 1.091. Then, at the beginning of the European trading session, it started rising slowly. If the buyers show their strength, the price might go up above 1.093 today. But if the bears take control over the market, the price could drop below the EMA 200 and 1.09.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the Asian trading session, the price dropped below 1.277. Then at the beginning of the European trading session, it started rising. One hour later the price even went up above 1.28. After that, it started falling heavily, though. The price even dropped below 1.272 in the afternoon. Then it started going up once again. In consequence, the GBPUSD finished the session slightly above 1.276.
During today’s Asian trading session, the price managed to rise above 1.28. Then, at the beginning of the European trading session, it started falling heavily. If the buyers don’t generate some serious appetite soon, the price could even drop below 1.27 today. But if they do, the price might return above 1.276 and reach the EMA 77.
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