Yesterday both EURUSD and GBPUSD dropped significantly. Today both Forex pairs are rising, though. What can they do next? Let’s try to answer that question in an analysis:

EURUSD

The EURUSD dropped heavily yesterday, The price finished the session significantly below the S2 support level, a little above 1.024. However, it is rising today. If the buyers continue generating firm demand, the price might go up above 1.029 and reach the EMA 200. But if the bears counterattack, the price could return below 1.025.

EURUSD

GBPUSD

The GBPUSD also dropped significantly yesterday, The price finished the session a little below 1.182. However, it is rising today. If the buyers continue generating firm demand, the price might go up above 1.187 today. But if the bears counterattack, the price could drop below 1.184 and the EMA 77.

GBPUSD