Yesterday, both EURUSD and GBPUSD dropped a bit. Today, both Forex pairs are still going down. What can they do next? Let’s try to answer that question in an analysis:
Yesterday, the EURUSD dropped a bit. It finished the session at 1.178. Today, it is falling even more. Right now the price is below the S1 support level. If the buyers don’t generate some serious appetite soon, the price could go down below 1.175. But if they do, the price might return above the Pivot Point.
The GBPUSD also dropped a bit yesterday. First, the price went down deeply to 1.357, but in the afternoon it managed to rise a bit and it finished the session above 1.362. Today, the price is slightly falling. If the buyers don’t generate some serious appetite soon, the price could drop below 1.36 once again. But if they do, the price might rise above the EMA 77.