Yesterday the EURUSD went down, but the GBPUSD managed to rise a bit. Today, both currency pairs are falling, though. What can they do next? Let’s try to answer that question in an analysis:
Yesterday was a really interesting session. First, the EURUSD dropped below the S2 support level and 1.053. Then, in the afternoon, it started rising. In consequence, the price finished the session at 1.056. Today it is falling slowly. The volatility is rather low, though. If the buyers don’t generate some serious appetite soon, the price could even drop below 1.054 and reach today’s S1. But if they do, the price might go up above the EMA 200 and reach today’s R1 resistance level and 1.058.
The GBPUSD also was really volatile yesterday. First, during the Asian trading session, the price dropped below 1.207. Then, at the beginning of the European trading session, it started rising. In consequence, the price finished the day slightly below 1.213.
During today’s Asian trading session, the GBPUSD managed to rise above 1.214. Then, in the morning, the price started falling. It is already below the EMA 77. If the buyers don’t generate some serious appetite soon, the price could drop below 1.209 today. But if they do, the price might even reach 1.215.