EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is moving inside the “overbought area”. In this case, the price is expected to break 8/8 and then continue falling towards the support at 6/8. However, this scenario may no longer be valid if the price breaks +1/8 to the upside. After that, the instrument may continue trading upwards to reach the resistance at +2/8.
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 its decline.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is moving above the 200-day Moving Average, thus confirming an ascending tendency. However, the asset has already reached the “overbought area, that’s why in this case the price is expected to rebound from 8/8 and then resume moving downwards to reach the support at 6/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may reverse and grow to reach the resistance at +2/8.
In the M15 chart, the price may break the downside line of the VoltyChannel indicator and, as a result, continue falling.
