Yesterday both EURUSD and GBPUSD went down. Today they are going down even more. From the data front, the nonfarm payrolls and unemployment rate in February in the US will be published. Anyway, let’s move on to the analysis:
EURUSD
The EURUSD dropped significantly yesterday. The price finished the session at the S1 support level, slightly above 1.106. Today it is going down even more. The price is already below today’s S1, right now the bulls are trying to defend 1.10. If they do it successfully, the price might bounce and reach 1.105. But if they fail, the price could fall to today’s S2.
GBPUSD
The GBPUSD also dropped significantly yesterday. The price finished the session at 1.334. Today it is going down even more. Right now the bulls are trying to defend 1.33. If they do it successfully, the price might bounce and reach 1.333. But if they fail, the price could fall below 1.328.
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