Market Outlook – EURUSD and GBPUSD
Yesterday the EURUSD dropped a bit, but the GBPUSD went down heavily and finished the session below 1.354. Today, the EURUSD is falling and the GBPUSD is showing mixed sentiment. From the data front, pending home sales in August in the US will be published. Anyway, let’s move on to the analysis:
The EURUSD dropped a bit yesterday. The price finished the session slightly above the S1 support level. However, the price is falling heavily today. It’s already below the S1. If the buyers don’t generate some serious appetite, the price could go down below 1.365 today. But if they do, the price might reach the Pivot Point.
Yesterday was a shocking session for the GBPUSD. The price dropped heavily and finished the session slightly above 1.353. Today it is showing mixed sentiment. If the buyers take control over the market, the price might rise above 1.355 today. But if the bears show their strength once again, the price could fall below 1.35.