Yesterday, both EURUSD and GBPUSD rose significantly. The EURUSD finished the day above the Pivot Point and the GBPUSD rose above 1.39. However, both Forex pairs are falling today. From the data front, manufacturing PMI index will be published in the UK. Anyway, let’s move on to the analysis:
Yesterday, the EURUSD rose above the Pivot Point. However, the price is falling deeply today. Right now the bears are attacking the S1 support level. If they do it successfully, the price could drop below 1.20 today. But if the bulls counterattack, the price might rise above the Pivot Point.
Yesterday, the GBPUSD rose significantly. The price finished the session above 1.39. However, it is falling deeply today. Right now the price is near 1.385. 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 return above the EMA 77.