On Friday, the US dollar showed some real strength. Both EURUSD and GBPUSD dropped heavily. Today, the EURUSD is going down slowly and the GBPUSD is falling really fast. What these currency pairs can do next? Let’s try to answer this question in an analysis:
The EURUSD dropped heavily during the last session of the week. The price finished the day on the S2 support level. During today’s Asian trading session it went down a bit as well. If the buyers don’t generate some serious appetite soon, the price could fall below 1.205. But if they do, the price might rise above the Pivot Point and 1.21.
The GBPUSD dropped heavily on Friday as well. The price finished the week below 1.36. Today the price hasn’t stopped falling. Right now it is below 1.355. If the buyers don’t generate some serious appetite soon, the price could fall below 1.35. But if they do, the price might reach the EMA 77 and 1.36.