On Friday both EURUSD and GBPUSD rose strongly. Today, the EURUSD is going down and the GBPUSd is showing mixed sentiment. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD rose strongly on Friday. The price finished the last session of the week significantly above the R4 resistance level, slightly above 1.132. However, it is going down heavily today. It’s already above the Pivot Point and 1.127. If the buyers don’t generate some serious appetite soon, the price could fall to the S1 support level. But if they do, the price might return above the Pivot Point and 1.13.
On Friday the GBPUSD rose significantly. The price finished the week above 1.335. Today it is slightly going down. It’s still above the EMA 77 and 1.333, though. If the buyers successfully defend those levels, the price might rise above 1.336 today. But If they fail, the price could fall below 1.33.