EURUSD, “Euro vs US Dollar”
EURUSD quotes and the RSI are nearing their oversold areas on H4. In this situation, a test of the 0/8 (1.0742) is expected, followed by a rebound from it and a rise to the resistance at 2/8 (1.0864). The scenario could be cancelled by a downward breakout of the support at 0/8 (1.0742), in which case, the pair might drop to -1/8 (1.0681).
On M15, after a rebound from 0/8 (1.0742) on H4, the price rise could be additionally supported by a breakout of the upper boundary of the VoltyChannel.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD quotes have broken the 200-day Moving Average on H4 and currently rest below it, revealing the probability of a downtrend development. The RSI has broken the support line. In this situation, a test of the 2/8 (1.1512) level is expected, followed by breaching it and falling to the support at 1/8 (1.2512). The scenario could be cancelled by rising above 3/8 (1.2634), in which case, the pair might reach above the resistance at 4/8 (1.2695).
On M15, the lower boundary of the VoltyChannel is broken, which increases the probability of a further price decline.
