Yesterday both EURUSD and GBPUSD went down one more time. The EURUSD finished the session below the S1 support level. Today, both Forex pairs are falling even more. From the data front, the CPI in July will be published in the US. Anyway, let’s move on to the analysis:

EURUSD

The EURUSD dropped once again yesterday. The price finished the session below the S1 support level and 1.172. Today, the price is falling even more. Right now it is below 1.171. If the buyers don’t generate some serious appetite soon, the price could go down below 1.17 today. But if they do, the price might rise above the Pivot Point.

EURUSD

GBPUSD

The GBPUSD slightly dropped yesterday. First the bulls tested the EMA 77, but they weren’t strong enough to beat that level, so the price went down a bit in the afternoon. Today, it is falling even more. If the buyers don’t generate some serious appetite soon, the price could drop below 1.38 today. But if they do, the price might reach the EMA 77.

GBPUSD