Yesterday the US dollar was still getting stronger. In consequence, both EURUSD and GBPUSD dropped even more. Today, the EURUSD is still going down, but the GBPUSD is rising. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD dropped one more time. The price finished the session slightly above the S1 support level, below 1.174. Today, the price is going down even more. If the buyers don’t generate some serious appetite soon, the price could fall below the S1 and 1.17. But if they do, the price might even rise to the R1 resistance level.
The GBPUSD also dropped a bit yesterday. The price finished the session below 1.385. However, it is rising today. Right now the buyers are getting close to the EMA 77. If they beat that level, the price might even reach 1.39. But if they fail, the price could fall below 1.383.