On Friday the EURUSD went down and the GBPUSD showed mixed sentiment. Today both Forex pairs are falling. What can they do next? Let’s try to answer that question in an analysis:
Friday was a really volatile session. First the EURUSD rose significantly above the R1 resistance level. Then it dropped heavily and finished the last session of the week slightly above the S1 support level and 1.098. Today the price is falling even more. If the buyers don’t generate some serious appetite soon, the price could go down below today’s S2 and 1.904. But if they do, the price might return above today’s S1.
The GBPUSD showed mixed sentiment on Friday. The price finished the last of the week slightly below 1.318. Today, it is going down significantly, though. If the buyers don’t generate some serious appetite soon, the price could drop below 1.312 today. But if they do, the price might even reach the EMA 77.