EURUSD, “Euro vs US Dollar”
EURUSD quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI has rebounded from the support line. In this situation, the price is expected to surpass the 5/8 (1.0864) level and rise to the resistance at 6/8 (1.0986). The scenario could be cancelled by a breakout of the 4/8 (1.0772) level, which might lead to a trend reversal, pushing the pair to the 3/8 (1.0620) support level.
On M15, the upper line of the VoltyChannel is broken, which increases the probability of a price rise.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD quotes are in the overbought area on D1. The RSI has breached the support line. In this situation, the price is expected to break below the 8/8 (1.2695) level and decline to the support at 7/8 (1.2573) support. The scenario could be cancelled by surpassing the +1/8 (1.2817) level. In this case, the pair might rise to the resistance at +2/8 (1.2939).
On M15, the price decline might be additionally supported by a breakout of the VoltyChannel lower line.
