Yesterday the EURUSD showed mixed sentiment and the GBPUSD went down. Today both currency pairs are falling, though. From the data front, the CPI and core CPI in April in the Eurozone will be published. Anyway, let’s move on to the analysis:
EURUSD
Yesterday was a really interesting session. First, the EURUSD went down below the Pivot Point in the morning. Then, during the first hours of the European trading session, the price rose above the R1 resistance level and 1.09. After that, it started falling once again. In consequence, the price finished the day below Pivot Point, a little above 1.086.
Today the EURUSD is going down, though. The price is already below the S1 support level. If the buyers don’t generate some serious appetite soon, the price could drop below 1.083. But if they do, the price might bounce above 1.086 today.
GBPUSD
The GBPUSD also was really volatile yesterday. First, the price dropped below 1.247 in the morning. Then, during the first hours of the European trading session, it managed to rise 1.254. After that, the price started falling once again. In consequence, the GBPUSD finished the day a little above 1.248.
Today the GBPUSD is going down heavily, though. If the buyers don’t generate some serious appetite soon, the price could even drop to 1.24 today. But if they do, the price might return above 1.246.
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