Yesterday both EURUSD rose significantly, but the GBPUSD went down. Today, the EURUSD is showing mixed sentiment, but the GBPUSD is rising. From the data front, the CPI in the Eurozone in September will be published. Anyway, let’s move on to the analysis:
Yesterday was a really interesting session. First, during the Asian trading session, the EURUSD dropped below 1.054. Then, at the beginning of the European trading session, the price started rising. It even went up above the R2 resistance level and 1.059 in the late afternoon. After that, the price started falling, though. In consequence, the EURUSD finished the session a little above the R1, slightly below 1.508.
During the first hours of today’s Asian trading session, the price reached 1.056. Then, it started rising. The price even went up above 1.059 in the morning. After that, at the beginning of the European trading session, the price started falling. If the buyers don’t generate some serious appetite soon, the price could drop below the EMA 200 and reach 1.055. But if they do, the price might even reach today’s R1 and 1.06.
The GBPUSD also was really volatile yesterday. First, the price dropped below 1.214. Then, at the beginning of the American trading session, it started rising significantly. The price even went up above 1.221 in the late afternoon. After that, it started falling, though. In consequence, the price finished the session at the EMA 77, slightly above 1.218.
During the first hours of today’s Asian trading session, the GBPUSD dropped below 1.216. Then, the price started rising. It is already above 1.219. If the buyers continue generating firm demand, the price might even reach 1.223 today. But if the bears counterattack, the price could return below the EMA 77 and 1.217.