EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the levels have been redrawn. Although the current distance between them is bigger, EURUSD is still trading above 5/8. In this case, the price is expected to continue growing to reach the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 5/8. After that, the instrument may resume moving downwards to reach the support at 3/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, bears are getting weaker and their attempted to continue the downtrend have failed. As a result, GBPUSD is no longer trading inside the “oversold area”. In this case, the pair may continue growing to reach the resistance at 2/8. However, this scenario may no longer be valid if the price breaks 0/8. After that, the instrument may resume moving downwards to reach the support at -1/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards. However, if the price breaks the downside line, the trend may reverse.
