On Friday both EURUSD and GBPUSD dropped heavily. Today, the EURUSD is rising, but the GBPUSD is going down. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD dropped heavily yesterday. The price finished the last session of the week below the S2 support level and 1.124. However, it is rising today. If the buyers continue generating firm demand, the price might rise above the EMA 200 and 1.129 today. But if the bears counterattack, the price could even fall below 1.122 today.
The GBPUSD also dropped deeply on Friday. The price finished the last session of the week below 1.325. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could fall significantly below 1.32. But if they do, the price might rise above the EMA 77.