Yesterday, the EURUSD dropped one more time and the GBPUSD showed mixed sentiment. The volatility was rather low, though. Today, both Forex pairs are rising significantly. From the data front, the GDP for Q4 will be published in the Eurozone. Anyway, let’s start the analysis:
Yesterday the US dollar strengthened once again. The EURUSD dropped significantly and finished the session at the S2 support level. However, the price is rising today. It’s already above the Pivot Point. If the buyers continue generating firm demand, the price might even reach the EMA 200 today. But if the bears counterattack, the price could return below 1.185.
The GBPUSD showed mixed sentiment yesterday. The price finished the session a little lower than when it started. The volatility was very low, though. Today, the situation looks completely different. The price is rising strongly. If the buyers continue generating firm demand, the price will return above 1.39 pretty soon. But if the bears counterattack, the price could drop to the EMA 77.