Yesterday the EURUSD dropped heavily, but the GBPUSD showed mixed sentiment. Today, the EURUSD is going down even more, but the GBPUSD is rising a bit. From the data front, new home sales in September and the CB consumer confidence in October will be published in the US. Anyway, let’s move on to the analysis:
Yesterday the EURUSD dropped heavily. The price finished the session at 1.161, a little above the S2 support level. Today it is going down even more. Right now the bulls are trying to defend 1.16. If they do it successfully, the price might rise above the Pivot Point today. But if they fail, the price could fall below 1.158.
The GBPUSD showed mixed sentiment yesterday. The bulls weren’t strong enough to stay above the EMA 77, so the price finished the session slightly below this level. Today, it is rising slowly, though. Right now the buyers are attacking the EMA 77. If they do it successfully, the price might reach 1.379 today. But if they fail, the price could fall below 1.374.