Yesterday, both EURUSD and GBPUSD went down. The GBPUSD even finished the session below 1.37. Today, both Forex pairs are rising, though. What can they do next? Let’s try to answer that question in an analysis:
Yesterday the EURUSD dropped a bit. The price finished the session slightly below the Pivot Point. Today, the price is rising, though. Right now the bulls are trying to stay above the Pivot Point. If they do it successfully, the price might continue going up and reach the R1 resistance level. But if they fail, the price could fall to the EMA 200.
The GBPUSD dropped heavily yesterday. The price finished the session a little below 1.37. Today, it is rising though. Right now the bulls are attacking the EMA 77. If they do it successfully, the price might even reach 1.375 today. But if they fail, the price could return below 1.37.