Yesterday, the EURUSD dropped a bit and the GBPUSD showed mixed sentiment. Today, both currency pairs are slightly going down. From the data front, CPI and Core CPI in June will be published in the US. Anyway, let’s move on to the analysis:
Yesterday, the EURUSD dropped a bit. However, the bears weren’t strong enough to stay below the EMA 200 and the S1 support level. The price managed to rise in the afternoon and it finished the session at the Pivot Point. Today, the price is still falling slowly. Right now the bears are attacking the EMA 200. If they do it successfully, the price could drop to the S1. But if the buyers generate some serious appetite, the price might even rise to the R1 resistance level.
The GBPUSD showed mixed sentiment yesterday. First, the price dropped below the EMA 77, but in the afternoon the bulls managed to rise above it. Today, the price is going down a bit, though. Right now the bears are attacking the EMA 77. If they do it successfully, the price could fall below 1.385. But if the buyers generate some serious appetite, the price might rise above 1.39.