EUR USD, “Euro vs. US Dollar”
As we can see at the H4 chart, the EUR/USD has formed the descending channel with Hammer, Doji, Engulfing, and Harami reversal patterns to define its borders. At t the moment, the price is being corrected again to reach the resistance level at 1.1828. in case it rebounds, the target will be the support level at 1.1718.
GBP USD, “Great Britain Pound vs US Dollar”
At the H4 chart, the GBP/USD pair formed Hanging Man, Engulfing, Hammer, Doji, and Shooting Star patterns to define the borders of the descending channel. Right now, the price is being corrected towards the resistance level at 1.3233. After reaching it, the instrument may rebound and fall towards the support level at 1.3046.
RoboForex Analytical Department