EURUSD, “Euro vs US Dollar”
EURUSD are below the 200-day Moving Average on H4, indicating the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, a downwards breakout of 6/8 (1.0498) is expected, followed by a decline to the support at 5/8 (1.0376). The scenario can be cancelled by rising above the 7/8 (1.0620) level, which could lead to a trend reversal, so that the pair might rise to 8/8 (1.0742).
On M15, a breakout of the lower boundary of the VoltyChannel could become an additional signal for a price decline.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD quotes are also below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is testing the resistance line. In this situation, a rebound from 4/8 (1.2207) is expected, followed by a decline to the support level of 2/8 (1.1962). The scenario can be cancelled by rising above the 5/8 (1.2329) level. In this case, the pair might rise to the resistance at 6/8 (1.2451).
On M15, a breakout of the lower boundary of the VoltyChannel might increase the probability of a further price decline.
