Yesterday, both EURUSD and GBPUSD showed mixed sentiment and the volatility was quite low. However, both Forex pairs are significantly falling down today. From the data front, the Philadelphia Fed manufacturing index in August will be published in the US. Anyway, let’s move on to the analysis:
Yesterday nothing really happened. The EURUSD showed mixed sentiment and finished the session near 1.171. However, it is falling significantly today. The price is already below the S1 support level. If the buyers don’t generate some serious appetite soon, the price could drop below the S2 support level and 1.166. But if they do, the price might reach the Pivot Point.
The GBPUSD also showed mixed sentiment yesterday. The price finished the session near 1.375. Today, it is also going down deeply, though. Right now the bears are attacking 1.37. If they do it successfully, the price might drop significantly below that level. But if the buyers manage to successfully defend that level, the price might rise to the EMA 77.