Yesterday, the EURUSD showed mixed sentiment, but the GBPUSD rose strongly and finished the session above 1.42. Today, both currency pairs are going down, though. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD showed mixed sentiment yesterday. The bulls weren’t strong enough to stay above 1.22. Moreover, the price went down during today’s Asian trading session. However, after testing the S1 support level, the buyers managed to generate some serious appetite. If they continue that move, the price might reach the EMA 200 today. But if they fail, the price could drop below the S1.
The GBPUSD rose strongly yesterday. The price finished the session above 1.42. However, it is going down today. If the buyers don’t generate some serious appetite soon, the price could drop below the EMA 77. But if they do, the price might return above 1.42.