Yesterday both EURUSD and GBPUSD dropped significantly. Today both currency pairs are showing mixed sentiment. What can they do next? Let’s try to answer that question in an analysis:
The EURUSD dropped significantly yesterday. The price finished the session below the S1 support level, at 1.073. Today it is showing mixed sentiment. If the buyers take control over the market, the price might rise above the Pivot Point and 1.074. But if the bears show their strength once again, the price could fall below 1.07.
The GBPUSD also dropped significantly yesterday. The price finished the session exactly at 1.26. Today it is going down even more. If the buyers don’t generate some serious appetite soon, the price could fall below 1.257 today. But if they do, the price might rise above the EMA 77 and 1.261.