Yesterday, the EURUSD dropped significantly once again. On the other hand, the GBPUSD rose strongly. Today, both Forex pairs are going up. What can they do next? Let’s try to answer that question in an analysis:
Yesterday, the EURUSD once again dropped significantly. The price finished the day below the S2 support level. Today it is rising slowly, though. Right now the price is attacking the Pivot Point. If the bulls do it successfully, the price might rise above 1.18 and the R1 resistance level today. But if they fail, the price could fall below 1.175.
Surprisingly, the GBPUSD rose strongly yesterday. The price went up above the EMA 77 and 1.37. Furthermore, it is still rising today. If the buyers continue generating firm demand, the price might even reach 1.38 today. But if the bears counterattack, the price could fall to the EMA 77.