EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is moving inside the “overbought area”. In this case, the price is expected to break 8/8 and continue falling towards the closest support at 7/8. However, this scenario may no longer be valid if the price breaks the resistance at +1/8 to the upside. After that, the instrument may continue growing to reach the next resistance at +2/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD has rebounded from the resistance at 8/8. The current situation implies that the price may break 7/8 and then continue falling towards the support at 6/8. However, this scenario may no longer be valid if the price breaks the resistance at 8/8 to the upside. After that, the instrument may continue growing to reach +1/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.
