Yesterday, both EURUSD and GBPUSD went up a bit. However, they are falling today. Right now the EURUSD is near 1.21 and the GBPUSD is significantly below 1.37. What can these currency pairs do next? Let’s try to answer that question in an analysis:
The EURUSD managed to rise a bit yesterday. First the price crossed the Pivot Point, then it attacked the EMA 200, but the bulls weren’t strong enough to hold above it. It finished the day slightly above 1.211, though. The situation looks different today. The price is falling and right now the bulls are trying to defend 1.21. If they manage to generate enough appetite, the price might even rise above the EMA 200. But if they fail, the price could drop below the S1 support level.
The GBPUSD went up strongly yesterday. The price finished the day significantly above 1.37. However, it is falling deeply today. It has already crossed the EMA 77 and 1.37. If the buyers don’t generate some serious appetite, the price could even fall near 1.36. But if they do, the price should return above the EMA 77.