On Friday, the EURUSD rose significantly. The GBPUSD was even stronger, it went up above 1.389. Today, both currency pairs are going down a bit, though. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD rose significantly on Friday. The price finished the session slightly below the R1 resistance level. During today’s Asian trading session, the price dropped to the Pivot Point, but this morning it started rising. If the buyers continue generating sufficient demand, the price might even reach 1.39 today. But if the bears show their strength, the price could fall to the S1 support level.
The GBPUSD rose strongly on Friday. The price finished the session a little above 1.389. Today, the price is going down a bit, though. If the buyers don’t generate some serious appetite soon, the price could drop to the EMA 77. But if they do, the price might reach 1.39 today.