EUR USD, “Euro vs. US Dollar”
At the H4 chart, the EUR/USD formed the descending channel with Hammer, Doji, Engulfing, and Harami reversal patterns to define its borders. By now, the price has been corrected again towards the resistance level at 1.1828 and stopped below after forming Hanging Man pattern. 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. By now, the price has been corrected towards the resistance level and formed Harami and Engulfing patterns at the top. The downside target is still the support level at 1.3046.
RoboForex Analytical Department