Yesterday, both EURUSD and GBPUSD showed mixed sentiment. Today, these Forex pairs are going down, though. From the data front, the CPI in April in the Eurozone will be published. Anyway, let’s move on to the analysis:
The EURUSD showed mixed sentiment yesterday. The bears tested the Pivot Point, but the bulls successfully defended it. Today, the price is going down, though. Right now, it is getting close to 1.21 and the S1 support level. If the buyers don’t generate some serious appetite soon, the price could drop below these levels. But if they do, the price might rise above the Pivot Point.
The GBPUSD also showed mixed sentiment yesterday and the volatility wasn’t increased. Today, the price is going down, though. It has already dropped below the EMA 77. If the buyers don’t generate some serious appetite soon, the price could fall below 1.39. But if they do, the price might return above the EMA 77.