Yesterday, the EURUSD dropped a bit and the GBPUSD went down heavily. Today, both Forex pairs are falling even more. How low can they go? Let’s try to answer that question in an analysis:

EURUSD

The EURUSD went down a bit yesterday. First the price tested the R1 resistance level, but in the afternoon it dropped and finished the session a little below the Pivot Point. Today, it is falling even more. Right now the bears are attacking 1.22. If the buyers don’t generate some serious appetite soon, the price could drop to the S2 support level. But if they do, the price might even reach today’s R1.

EURUSD - 02-06-2021

GBPUSD

The GBPUSD dropped heavily yesterday. The price finished the session at 1.415. Today, it is going down even more. If the buyers don’t generate some serious appetite soon, the price could fall to 1.41. But if they do, the price might reach the EMA 77.

GBPUSD - 02-06-2021