Yesterday both EURUSD and GBPUSD went down one more time. Today the EURUSD is showing mixed sentiment and the GBPUSD is rising. From the data front, the Q1 GDP in the US will be published. Anyway, let’s move on to the analysis:
The EURUSD once again dropped deeply yesterday. The price finished the session below the S2 support level, slightly above 1.055. During today’s Asian trading session the price went down below today’s S1 and 1.049, but this morning it started rising. If the buyers continue generating sufficient demand, the price might go up above the Pivot Point and reach 1.06 today. But if the bears counterattack, the price could return below 1.05.
The GBPUSD dropped a bit yesterday. The price finished the session slightly below 1.254. However, it is rising today. If the buyers continue generating firm demand, the price might go up above 1.26 today. But if the bears counterattack, the price could fall to 1.25.