Yesterday the EURUSD dropped significantly and the GBPUSD showed mixed sentiment. Today, both Forex pairs are going down, though. From the data front, pending home sales in November in the US will be published. Anyway, let’s move on to the analysis:
Yesterday the EURUSD dropped significantly. The price finished the session below the S1 support level, exactly at 1.13. Today it is going down even more. The price is already above today’s S1. If the buyers don’t generate some serious appetite soon, the price could fall below 1.128. But if they do, the price might return above 1.13 today.
The GBPUSD showed mixed sentiment yesterday. First the price rose above 1.346, then it dropped and finished the session a little above the EMA 77, at 1.343. However, it is going down today. The price is already below 1.342 and the EMA 77. If the buyers don’t generate some serious appetite soon, the price could go down below 1.34 today. But if they do, the price might return above the EMA 77 and 1.343.