Yesterday, both EURUSD and GBPUSD dropped heavily. The EURUSD finished the session a little above the S3 support level and the GBPUSD went down to 1.38. Today, both currency pairs are rising, though. From the data front, the PPI index in June will be published in the US. Anyway, let’s move on to the analysis:
EURUSD
The EURUSD dropped deeply yesterday. The price finished the session a little above the S3 support level. Today, the price is rising, though. If the buyers continue generating firm demand, the price might rise to the EMA 200 today. But if the bears show their strength once again, the price could fall to 1.175.
GBPUSD
The GBPUSD dropped significantly yesterday. The price finished the session a little above 1.38. However, it is rising strongly today. It’s already above the EMA 77. If the buyers continue generating firm demand, the price might even reach 1.39 today. But if the bears counterattack, the price could return below the EMA 77.
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