Yesterday both EURUSD and GBPUSD went down heavily. Today both Forex pairs are going down even more. What can they do next? Let’s try to answer that question in an analysis:

EURUSD

The EURUSD dropped deeply yesterday. The price finished the session below the S2 support level, slightly above 1.071. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could even fall below 1.067 today. But if they do, the price might even reach the Pivot Point and 1.074.

EURUSD

GBPUSD

The GBPUSD also went down heavily yesterday. The price finished the session a little below 1.274. Today it is still falling. If the buyers don’t generate some serious appetite soon, the price could drop below 1.27 today. But if they do, the price might reach 1.278 and the EMA 77.

GBPUSD