Yesterday both EURUSD and GBPUSD went down. Today both currency pairs are rising, though. From the data front, the GDP in the second quarter in the US will be published. Anyway, let’s move on to the analysis:
EURUSD
Yesterday was a really interesting session. First, the EURUSD dropped below the S2 support level and 1.049. Then, in the evening, it started rising. In consequence, the price finished the session slightly below 1.051.
During today’s Asian trading session, the EURUSD dropped below 1.05. Then, at the beginning of the European trading session, it started rising. If the buyers continue generating sufficient demand, the price might go up above today’s Pivot Point and reach 1.054. But if the bears counterattack, the price could fall below 1.049 today.
GBPUSD
The GBPUSD also was really volatile yesterday. First, during the Asian trading session, the price dropped below 1.214. Then, in the morning, it started rising. 90 minutes after the start of the European trading session, the price even went up above 1.216. After that, it started falling once again. The price even reached 1.211 in the early evening. However, during the last hours of yesterday’s session, it managed to rise one more time. In consequence, the GBPUSD finished the day slightly below 1.214.
During today’s Asian trading session, the price dropped below 1.212. Then, at the beginning of the European trading session, it started rising. The price is already above the EMA 77 and 1.215. If the buyers continue generating sufficient demand, the price might go up above 1.217 today. But if the bears counterattack, the price could return below 1.212.
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