Yesterday, the EURUSD dropped a bit and the GBPUSD showed mixed sentiment. The volatility wasn’t really high, though. Today, both currency pairs are going down. From the data front, the CPI index will be published in the Eurozone today. Anyway, let’s move on to the analysis.
The EURUSD went down a bit yesterday and the volatility was rather low. The price finished the day a little below 1.205. Today, the price is still going down. Right now it’s testing 1.20. If the buyers don’t generate some serious appetite there, the price could hold below 1.20 for the next few days or even fall much lower. But if they do, the price should bounce to the Pivot Point.
The GBPUSD showed mixed sentiment yesterday. First, the price tested the EMA 77 several times, then it dropped and finished the day slightly above 1.39. Today, the price is going down. It’s already below 1.39. If the buyers don’t generate some serious demand pretty soon, the price could fall below 1.385. But if they do, the price should test the EMA 77 once more.