Yesterday both EURUSD and GBPUSD dropped significantly. Today, both currency pairs are rising, though. From the data front, all eyes will be focused on the nonfarm payrolls and unemployment rate in August in the US. Anyway, let’s move on to the analysis:
The EURUSD dropped heavily yesterday. The price finished the session significantly below the S1 support level, slightly above 0.994. However, it is rising strongly today. Right now the bulls are attacking the EMA 200. If they do it successfully, the price might go up above 1.001 today. But if they fail, the price could fall to the Pivot Point, below 0.997.
The GBPUSD also dropped significantly yesterday. The price finished the session slightly below 1.154. However, it is rising today. If the buyers continue generating firm demand, the price might go up above 1.159 today. But if they fail, the price could fall below 1.153.