On Friday, both EURUSD and GBPUSD rose strongly. The EURUSD finished the week above 1.215 and the GBPUSD rose above 1.40. Today, the EURUSD is going down a bit and the GBPUSD is still rising. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD rose strongly on Friday. The price finished the last session of the week high above the R2 resistance level. Today, it is going down a bit, though. If the buyers don’t generate some serious appetite soon, the price could drop below the Pivot Point. But if they do, the price might even reach 1.22.
The GBPUSD also rose strongly on Friday. The price finished the week above 1.40. Today, it is rising even more. If the buyers continue generating firm demand, the price might rise above 1.405 today. But if the bears counterattack, the price could even drop to the EMA 77.