During the last session of the week, the EURUSD showed mixed sentiment and the GBPUSD dropped significantly. However, both Forex pairs are going up a bit today. What can they do next? Let’s try to answer that question in an analysis:
During the last session of the week nothing really happened. The EURUSD showed mixed sentiment and the volatility was rather low. During today’s Asian trading session, the price went up a bit, but this morning it started falling. Right now the bears are trying to attack the Pivot Point. If the buyers don’t generate sufficient demand there, the price could even drop below the EMA 200. But if they defend the Pivot Point successfully, the price might bounce and test 1.22.
The GBPUSD dropped significantly during the last session of the week. The price finished the day below the EMA 77 and 1.37. However, it’s already above those levels today, because the price has been rising since the start of today’s Asian trading session. If the buyers continue generating firm demand, the price might reach 1.375 today. But if the bears counterattack, the price could fall below the EMA 77.