Yesterday both EURUSD and GBPUSD dropped heavily. Today the GBPUSD is going down even more, but the EURUSD is showing mixed sentiment. From the data front, all eyes will be focused on the Nonfarm payrolls in December in the US today. Anyway, let’s move on to the analysis:
The EURUSD dropped heavily yesterday. The price finished the session significantly below the S1 support level, at 1.052. Today it is showing mixed sentiment. If the bulls take control over the market, the price might rise above 1.055 and reach the Pivot Point. But if the bears show their strength once again, the price could go down below 1.05.
The GBPUSD also dropped deeply yesterday. The price finished the session slightly below 1.191. Today it is going down even more. The price is already below 1.189. If the buyers don’t generate some serious appetite soon, the price could fall below 1.186. But if they do, the price might return above 1.192.