On Friday, both EURUSD and GBPUSD dropped significantly. The EURUSD finished the last session of the month a little above the S1 support level, and the GBPUSD went down below 1.39. Today, both Forex pairs are rising, though. From the data front, manufacturing PMI in July in the UK, Eurozone and the US will be published. Anyway, let’s start the analysis:

EURUSD

The EURUSD dropped a bit on Friday. The price finished the last session of the month a little above the S1 support level. However, it is rising today. If the buyers continue generating firm demand, the price might rise above the R1 resistance level and 1.19. But if the bears counterattack, the price could fall to the EMA 200.

EURUSD - 02.08.2021

GBPUSD

The GBPUSD dropped heavily on Friday. The price finished the last session of the month below 1.39. However, it is rising significantly today. The price is already above the EMA 77. If the buyers continue generating firm demand, the price might rise above 1.395 today. But if the bears counterattack, the price could return below 1.39.

GBPUSD - 02.08.2021