On Friday, both EURUSD and GBPUSD dropped heavily. The EURUSD finished the session below the S2 support level, a little above 1.21. The GBPUSD ended the week slightly above 1.41. Today, the GBPUSD is falling even more, but the EURUSD is rising a bit. Anyway, let’s move on to the analysis:
The EURUSD dropped deeply on Friday. The price finished the last session of the week below the S2 support level, a little above 1.21. During today’s Asian trading session, it went down below 1.21, but this morning it started rising. If the buyers continue generating sufficient demand, the price might even reach the EMA 200 today. But if the bears show their strength once again, the price could return below 1.21.
On Friday, the GBPUSD dropped heavily. The frice finished the last session of the week slightly above 1.41. Today, it is falling even more. The price is already below 1.41. If the buyers don’t generate some serious appetite soon, the price could drop to 1.407 today. But if they do, the price might reach the EMA 77.