Yesterday, both EURUSD and GBPUSD dropped once again. The EURUSD finished the session at the S1 support level and the GBPUSD went down below 1.37. Today, the EURUSD is showing mixed sentiment and the GBPUSD is rising slowly. From the data front, the Q4 GDP will be published in the US. Anyway, let’s start the analysis:
The EURUSD dropped significantly once again yesterday. The price finished the day at the S1 support level. Today it is showing mixed sentiment and so far the volatility is rather low. If the bulls finally show some strength, the price might rise above the R1 resistance level today. But if the bears take control over the market one more time, the price could fall below 1.18.
The GBPUSD also went down significantly yesterday. The price finished the day below 1.37. However, the price is rising slowly today. If the buyers continue generating the appetite, the price might rise above the EMA 77 today. But if the bears counterattack, the price could fall to the 1.365.