Yesterday, both EURUSD and GPBUSD showed mixed sentiment. Both Forex pairs rose significantly first and then dropped in the afternoon. Today the EURUSD is going down a bit and the GBPUSD is still showing mixed sentiment. From the data front, there will be many important publications, such as manufacturing PMI in August in the Eurozone, UK and US and ADP nonfarm employment change in August in the US. Anyway, let’s start the analysis:
Yesterday was a really interesting session. First the EURUSD rose high above the R2 resistance level and 1.184, then it dropped in the afternoon and finished the session slightly below the R1. Today, the price is going down a bit, though. Right now the bulls are trying to defend 1.18. If they do it successfully, the price might bounce and rise above the Pivot Point. But if they fail, the price could fall below the S1 support level.
The GBPUSD also showed mixed sentiment yesterday. First the price rose and tested 1.38, but then it dropped in the afternoon and finished the session a little above 1.375. Today the price is still showing mixed sentiment. Right now the bulls are attacking the EMA 77. If they do it successfully, the price might even rise above 1.38. But if they fail, the price could fall to 1.37.