On Friday, the EURUSD showed mixed sentiment and the GBPUSD dropped significantly. Today, the EURUSD is still showing mixed sentiment, but the GBPUSD is rising. What can they do next? Let’s try to answer that question in an analysis:
Friday’s session was really interesting. First, the EURUSD rose strongly and reached the R2 resistance level. However, in the afternoon it started going down. In the end, it finished the last session of the week a little above the Pivot Point and the EMA 200. During today’s Asian trading session, the price dropped, but this morning it started rising. If the buyers continue generating sufficient demand, the price might even reach the R1 today. But if the bears take control over the market, the price could fall to the S1 support level.
The GBPUSD dropped significantly on Friday. The price finished the last session of the week below 1.39. However, it is rising strongly today. It’s already significantly above the EMA 77 and 1.39. If the buyers continue generating firm demand, the price might rise above 1.395 today. But if the bears counterattack, the price could return below the EMA 77.