EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is still trading inside the “oversold zone”. In this case, the price may rebound from the -1/8 level and resume its growth to reach the resistance at the 0/8 one.
However, in the H1 chart the scenario may be a bit different. Earlier, the pair left the “overbought zone” and started falling towards the first target at the 5/8 level, but faced the resistance at the 6/8 one. If the price breaks the latter level, it may continue moving downwards to reach the 5/8 one.
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”
In the H4 chart, GBPUSD failed to break the resistance at the 2/8 level yesterday. In this case, the price is expected to resume trading downwards and reach the support at the 0/8 level.
As we can see in the H1 chart, the pair is no longer trading inside the “overbought zone” and may continue moving downwards to reach the support at the 5/8 level.
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.
