Yesterday, the EURUSD dropped a bit. The price finished the day below the S1 support level. The GBPUSD showed mixed sentiment, but the volatility was really high. Today, the EURUSD is still falling and the GBPUSD is still showing mixed sentiment. From the data front, the CB consumer confidence report will be published in the US. Anyway, let’s start the analysis:
The EURUSD dropped a bit yesterday. The price finished the day below the S1 support level. Today, it is still going down. Right now the bears are attacking the S2. If the buyers don’t generate some strong appetite there, the price could fall below 1.17. But if they do, the price might reach the Pivot Point.
The GBPUSD showed mixed sentiment yesterday. First the price rose high above 1.38. Then, in the afternoon, it dropped below the EMA 77 and finished the day a little lower than it started. Today the price is still showing mixed sentiment. If the bulls take control over the market, the price might rise above 1.38 once again. But if the bears show their strength this time, the price could fall to 1.37.