EURUSD, “Euro vs. US Dollar”
In the H4 chart, there was a “false breakout” of the resistance at 5/8. In this case, the price is expected to continue 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.
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.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is no longer moving inside the “overbought area”. In this case, the price is expected to continue falling towards the support at 5/8. However, this scenario may no longer be valid if the price fixes above 8/8. After that, the instrument may continue growing to reach +1/8.
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 5/8 from the H4 chart.
