Yesterday, both EURUSD and GBPUSD went up significantly. However, the EURUSD is falling today and the GBPUSD is showing mixed sentiment. From the data front, all eyes will be focused on the FOMC meeting and the Fed interest rate decision, so the volatility might be increased in the evening. Anyway, let’s start the analysis:
Yesterday was a really interesting session for the EURUSD. First the price dropped and tested the S1 support level, but then it bounced and finished the day significantly above the Pivot Point and the EMA 200. However, the price is falling today. Right now the bears are attacking the Pivot Point and the EMA 200. If the buyers don’t generate some serious appetite pretty soon, the price could fall to the S1. But if they do, the price might even reach the R1 resistance level.
That was a great bullish session for the GBPUSD yesterday. The price went up strongly and finished the day above 1.37. Today it is showing mixed sentiment. If the bulls take complete control over the market, the price might even test 1.38. But if the bears appear to be stronger today, the price could drop below the EMA 77.