On Friday the EURUSD showed mixed sentiment and the GBPUSD went down a bit. Today both Forex pairs are rising, though. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD showed mixed sentiment on Friday. The price finished the last session of the week a little above 1.04. After the weekend it opened much lower, but in the morning it started rising strongly. Right now the bulls are attacking the R1 resistance level. If they do it successfully, the price might go up above 1.045 today. But if they fail, the price could return below 1.041.
The GBPUSD went down a bit on Friday. The price finished the last session of the week slightly above 1.209. After the weekend it opened much lower, but in the morning it started rising. If the buyers continue generating sufficient demand, the price might go up above 1.212 today. But if the bears counterattack, the price could drop below the EMA 77 and reach 1.207.