Yesterday the US dollar showed some strength. The EURUSD went down a bit, but the GBPUSD dropped heavily and finished the session a little above 1.38. Today both currency pairs are showing mixed sentiment. What can they do next? Let’s try to answer that question in an analysis:
Yesterday the EURUSD dropped a bit. The price finished the session a little below the Pivot Point. Today the price is showing mixed sentiment. Right now the bulls are trying to beat the Pivot Point. If they do it successfully, the price might rise to the R1 resistance level and the EMA 200. But if they fail, the price could drop to the S1 support level.
The GBPUSD dropped heavily yesterday. The price finished the session only a little above 1.38. Today it is showing mixed sentiment. If the bulls take control over the market, the price might rise to the EMA 77. But if the bears show their strength once again, the price could fall significantly below 1.38.