Yesterday the EURUSD went down, but the GBPUSD managed to rise. Today both currency pairs are falling, though. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
The EURUSD was really volatile yesterday. First, during the Asian trading session, the price rose above 1.106. Then, at the beginning of the European trading session, it started going down. The price even dropped below 1.10 right before the beginning of the American trading session. Then it started rising once again. In consequence, the price finished the day a little above 1.102.
However, it is falling today. Right now the bulls are trying to defend 1.10. If they do it successfully, the price might return above the EMA 200 and reach 1.102. But if they fail, the price could drop below the S1 support level and reach 1.098.
GBPUSD
The GBPUSD managed to rise yesterday. The price started going up significantly at the beginning of the Asian trading session. In consequence, it finished the day slightly above 1.249.
During today’s Asian trading session, the price was falling. However, it started rising in the morning. The price has already returned above the EMA 77. If the buyers show their strength once again, the price might even reach 1.25 today. But if the bears take control over the market, the price could drop below 1.246.
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