Yesterday, the EURUSD dropped a bit. On the other hand, the GBPUSD showed mixed sentiment. Today, nothing has really changed. The EURUSD is still falling slowly and the GBPUSD is showing mixed sentiment. From the data front, the construction PMI in February in the UK and weekly initial jobless claims in the US will be published. Anyway, let’s start the analysis:
EURUSD slightly went down yesterday. The volatility wasn’t really high and the price finished the day above the Pivot Point, though. Today, the price is still falling a bit. If the buyers don’t generate some serious appetite pretty soon, the price could drop below 1.20, near the S2 support level. But if they do, the price might rise to the EMA 200.
The GBPUSD showed mixed sentiment yesterday. The price finished the day below the EMA 200, though. During today’s Asian trading session the GBPUSD dropped, then it rose and this morning it started falling slightly once again. In consequence it is still showing mixed sentiment. If the buyers take control over the market, the price might test 1.40. But if the bears show their strength, the price could fall to 1.39.