Yesterday both EURUSD and GBPUSD went down. Today, the EURUSD is still falling, but the GBPUSD is showing mixed sentiment. From the data front, the CB consumer confidence in January in the US will be published. Anyway, let’s move on to the analysis:
Yesterday was a really interesting session. First the EURUSD dropped significantly below the S1 support level and reached 1.129. Then it managed to rise, but still finished the session below the Pivot Point, slightly above 1.132. Today the price is falling even more. If the buyers don’t generate some serious appetite soon, the price could go down below the S1 and reach 1.29. But if they do, the price might return above the Pivot Point and 1.32.
The GBPUSD dropped heavily yesterday. The price finished the session below 1.349. Today it is showing mixed sentiment. If the buyers take control over the market, the price might rise above the EMA 77 and 1.351. But if the bears show their strength once again, the price could go down below 1.345.