Yesterday the GBPUSD dropped to 1.38 and the EURUSD showed mixed sentiment. 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 yesterday. First the price rose significantly and almost tested the R2 resistance level. Then it dropped and finished the session near 1.18. Today, the price is rising slowly, though. If the buyers continue generating sufficient demand, the price might reach the R1 today. But if the bears counterattack, the price could fall to the S1 support level.
Yesterday was a really volatile session. First the GBPUSD rose above 1.39. Then it dropped heavily and finished the session slightly above 1.38. Today, the price is going up once again, though. It’s already above the EMA 77. If the buyers continue generating firm demand, the price might rise above 1.385 today. But if the bears counterattack, the price could fall below 1.38.