Yesterday both EURUSD and GBPUSD dropped heavily. The GBPUSD even finished the session a little below 1.35. Today the GBPUSD is still going down, but the EURUSD is showing mixed sentiment. From the data front, all eyes will be focused on nonfarm payrolls and the unemployment rate in the US in October. Anyway, let’s move on to the analysis:
The US dollar showed some real strength yesterday. In consequence the EURUSD dropped heavily and finished the session significantly below the S1 support level, slightly above 1.155. Today the price is showing mixed sentiment. If the buyers take control over the market, the price might reach the EMA 200 today. But if the bears show their strength once again, the price could fall below 1.152.
The GBPUSD also dropped deeply yesterday. The price finished the session a little below 1.35. Today it is falling even more. If the buyers don’t generate some serious appetite soon, the price could go down to 1.34 today. But if they do, the price might reach the EMA 77.