EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is moving above 5/8. In this case, there might be a false breakout of this level, which may later result in a new decline towards the support at 3/8. However, this scenario may no longer be valid if the price breaks 6/8 to the upside. After that, the instrument may continue growing to reach the resistance at 7/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, the pair is moving between 6/8 and 7/8. In this case, GBPUSD is expected to break 6/8 and then continue falling towards the support at 3/8. However, this scenario may no longer be valid if the price breaks 7/8 and fixes above it. After that, the instrument is expected to continue growing to reach the resistance at 8/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards to reach 3/8 from the H4 chart.
