Yesterday, both EURUSD and GBPUSD rose a bit. The EURUSD even tested 1.22. However, both Forex pairs are going down today. From the data front, the GDP in Q1 in the Eurozone and JOLTs job openings in April in the US will be published. Anyway, let’s move on to the analysis:
The EURUSD rose a bit yesterday. The bulls even tested the R1 resistance level and 1.22, but the price finished the session slightly below those levels. Today, the price is going down, though. If the buyers don’t generate some serious appetite soon, the price could drop below the S1 support level. But if they do, the price might even reach 1.22.
The GBPUSD also rose a bit yesterday. The price finished the session above 1.417. Today, it is going down significantly, though. If the buyers don’t generate some serious appetite soon, the price could even drop below 1.41. But if they do, the price should return above the EMA 77.