EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is consolidating. In this case, the price is expected to continue trading downwards to reach the support at 4/8. However, this scenario may no longer be valid if the price breaks 5/8 to the upside and fixes above it. After that, the instrument may continue growing towards the resistance at 6/8.
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 moving downwards to reach 4/8 from the H4 chart.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is still trading below 5/8. In this case, the price is expected to continue falling to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks 5/8. After that, the instrument is expected to continue growing towards the resistance at 7/8.
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 trading downwards.
