EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the lines have been redrawn. At the moment, EURUSD is trading at 5/8. In this case, the price is expected to rebound from this level and then resume falling towards the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may continue growing to reach the resistance at 6/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is approaching very strong resistance at 8/8. In this case, the price is expected to rebound from this level and then resume falling towards the support at 6/8. However, this scenario may no longer be valid if the price breaks at 8/8 to the upside. After that, the instrument may continue growing to reach the resistance at +1/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 6/8 from the H4 chart.
