Yesterday, both EURUSD and GBPUSD showed mixed sentiment. Both Forex pairs rose slightly first, but then dropped a little. The volatility was rather low. During today’s Asian trading session, both EURUSD and GBPUSD went up. However, this morning the GBPUSD is going down. From the data front, the Fed’s Monetary Policy Meeting Minutes and initial jobless claims in the US will be the key reports today. Anyway, let’s start the analysis:
The EURUSD showed mixed sentiment yesterday and the volatility was quite low. The bulls tested the R1 in the morning, but they failed to beat it. Today, the price is slightly going up, though. Right now it’s on the Pivot Point. If the buyers are able to generate some strong appetite, the price might attack 1.215 and hold above it for the rest of the day. But if the bears take control over the market, the price could drop to the S2 support level and the EMA 200.
The GBPUSD showed mixed sentiment yesterday as well. The bulls tested 1.385, but they failed to hold above it. In consequence, the price dropped a little and finished the day slightly below 1.383. During today’s Asian trading session the GBPUSD went up significantly. However, it dropped heavily this morning. Right now the price is at the EMA 77. If the buyers manage to stay above it, the price might bounce and test 1.385 once again. But if the bears beat it, the price could drop below 1.38.