Yesterday both EURUSD and GBPUSD dropped heavily. Today, the GBPUSD is falling even more, but the EURUSD is 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 Asian trading session, the EURUSD rose above 1.069. Then, at the beginning of the European trading session, it started falling heavily. In consequence, the price finished the day below the S1 support level, at 1.059.
During today’s Asian trading session, the EURUSD rose above 1.06 and the EMA 200. Then, in the morning, the price started falling. It even dropped below 1.058 at the beginning of the European trading session. After that, the price started rising once again. If the buyers continue generating sufficient demand, the price might return above the EMA 200 and reach 1.061 today. But if the bears counterattack, the price could fall to 1.056.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the Asian trading session, the price rose above 1.228. Then, at the beginning of the European trading session, it started falling heavily. In consequence, the price finished the day a little below 1.216.
During today’s Asian trading session, the GBPUSD rose above 1.217. Then, in the morning, the price started falling. It is already below 1.214. If the buyers don’t generate some serious appetite soon, the price could drop below 1.211 today. But if they do, the price might return above 1.216.
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