Yesterday, both EURUSD and GBPUSD dropped significantly. Today, the EURUSD is going down a bit and the GBPUSD is showing mixed sentiment. From the data front, the CPI in June in the Eurozone and retail sales in the US, also in June will be published. Anyway, let’s move on to the analysis:
Yesterday, the EURUSD dropped significantly. The price finished the session below the Pivot Point, a little above 1.181. Today, the price is going down a bit. Right now the bulls are trying to defend 1.18. If they do it successfully, the price might rise above the EMA 200. But if they fail, the price could fall to the S1 support level.
The GBPUSD dropped significantly yesterday. The price finished the session below the EMA 77. Today, it is showing mixed sentiment. If the buyers take control over the market, the price might return above the EMA 200. But if the bears show their strength once again, the price could fall below 1.38.