On Friday, the EURUSD showed mixed sentiment, but the GBPUSD dropped deeply. The GBPUSD finished the week at 1.376. Today, both Forex pairs are going down even more, though. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD showed mixed sentiment on Friday and the volatility was rather low. That means that the price finished the week at 1.18. However, the price is falling significantly today. It’s already below the S1 support level. If the buyers don’t generate some serious appetite soon, the price could drop below the S2. But if they do, the price might rise to the Pivot Point.
The GBPUSD dropped heavily on Friday. The price finished the week at 1.376. Today it is falling even more. If the buyers don’t generate some serious appetite soon, the price could go down below 1.37 today. But if they do, the price might return above 1.375.