On Friday both EURUSD and GBPUSD rose significantly. However, both Forex pairs are going down today. What can they do next? Let’s try to answer that question in an analysis:

EURUSD

The EURUSD rose strongly on Friday. The price finished the last session of the week high above the R1 resistance level, a little above 0.986. However, it is going down today. If the buyers don’t generate some serious appetite soon, the price could drop below the Pivot Point and reach 0.98 and the EMA 200. But if they do, the price might even rise above 0.987.

EURUSD

GBPUSD

The GBPUSD also rose significantly on Friday. The price finished the last session of the week exactly at 1.13. Moreover, after the weekend it opened much higher, above 1.139. However, it has been going down since then. If the buyers don’t generate some serious appetite soon, the price could drop below 1.13. But if they do, the price might return above 1.138.

GBPUSD