On Friday the EURUSD dropped a bit and GBPUSD showed mixed sentiment. Today both Forex pairs are going down heavily. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD dropped slightly on Friday. The price finished the week near 1.181. Today it is going down heavily. The price is already below the S2 support level. If the buyers don’t generate some serious appetite, the price could fall to 1.176. But if they do, the price might rise above the S1.
The GBPUSD showed mixed sentiment on Friday. The price finished the week slightly below the EMA 77, near 1.383. However, the price is going down today. If the buyers don’t generate some serious appetite soon, the price could drop below 1.38. But if they do, the price might rise above the EMA 77.