Yesterday the US dollar got some real strength. In consequence both EURUSD and GBPUSD dropped heavily. Today the EURUSD is going down and the GBPUSD is showing mixed sentiment. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD dropped deeply yesterday. The price finished the session below the S3 support level and 1.12. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could even fall to 1.11. But if they do, the price might rise above the Pivot Point and 1.12.
The GBPUSD also dropped heavily yesterday. The price finished the session slightly above 1.337. Today it is showing mixed sentiment. If the buyers take control over the market, the price might rise above the EMA 77. But if the bears show their strength once again, the price could even fall below 1.33.