EURUSD, “Euro vs. US Dollar”
In the H4 chart, after breaking 5/8, EURUSD is moving above it. In this case, the price may continue trading upwards to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 4/8 to the downside. After that, the instrument may start a new decline towards the support at 2/8.
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 moving upwards.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, the pair is moving below 3/8. In this case, GBPUSD is expected to test this level, rebound from it, and then resume falling towards the support at 0/8. However, this scenario may no longer be valid if the price breaks 4/8 and fixes above it. After that, the instrument is expected to continue growing to reach the resistance at 6/8.
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.
