Yesterday, the EURUSD dropped a bit and the GBPUSD showed mixed sentiment. Today, both Forex pairs are significantly going down, though. From the data front, the CB consumer confidence index in the US in June will be published. Anyway, let’s move on to the analysis:
The EURUSD dropped a bit yesterday. However, the bears weren’t strong enough to hold the price below the S1 support level, so it went up in the early afternoon and finished the session slightly above that level. Today, the price is significantly going down. Right now the bears are getting close to the S1. If they beat this level, the price could fall and stay below 1.19. But if the buyers generate some serious appetite, the price might return above the Pivot Point.
Yesterday, the GBPUSD showed mixed sentiment. However, the bulls weren’t strong enough to stay above the EMA 77, so the price dropped in the afternoon and finished the session significantly below it. Moreover, it is going down today. If the buyers don’t generate some serious appetite soon, the price could fall below 1.385 today. But if they do, the price might rise above the EMA 77 once again.