On Friday, both EURUSD and GBPUSD rose strongly. The EURUSD finished the session above the R2 resistance level and the GBPUSD finished the week a little below 1.41. Today, the EURUSD is showing mixed sentiment and the GBPUSD is rising. What can they do next? Let’s try to answer that question in an analysis:
EURUSD
The EURUSD rose strongly on Friday. The price finished the last session of the week above the R2 resistance level. During today’s Asian trading session, it dropped significantly, but this morning it started going up. If the buyers continue generating sufficient demand, the price might reach the R1 today. But if the bears take control over the market, the price could drop below the Pivot Point and reach the EMA 200.
GBPUSD
The GBPUSD also rose strongly on Friday. The price finished the week a little below 1.41. Today, it is rising even more. If the buyers continue generating firm demand, the price might reach 1.415 today. But if the bears counterattack, the price could drop to the EMA 77.
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