Yesterday both EURUSD and GBPUSD dropped significantly. Today, both currency pairs are rising, though. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD dropped heavily yesterday, The price finished the session at the S2 support level and 1.044. Today it is showing mixed sentiment. If the buyers take control over the market, the price might even reach the R1 resistance level and 1.05 today. But if the bears show their strength once again, the price could fall below 1.043.
The GBPUSD also dropped significantly yesterday, The price finished the session at 1.212. However, it is rising today. If the buyers continue generating sufficient demand, the price might go up above 1.216 and reach the EMA 77 today. But if the bears counterattack, the price could fall below 1.21.