EURUSD, “Euro vs US Dollar”
On H4, the EURUSD has broken through the 200-day Moving Average and is now above it, indicating that an uptrend is possible. The RSI has reached an overbought area. In the current situation we should expect a pullback from the 0/8 level (1.0742) and further decline to the support at -1/8 (1.0620). If the scenario is cancelled, the price will overcome the level of 0/8 (1.0741). In this case the growth of the price will continue and it might reach the resistance level of 1/8 (1.0864).
On M15, the bottom line of the VoltyChannel indicator is too far away from the current price, so the signal for fall of the price will be the price rebound from the 0/8 level (1.0742) on the H4.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the situation is similar. The GBPUSD has broken through the 200-day Moving Average and is above it, while the RSI has reached the overbought area. A break-down of the 3/8 level (1.2085) is expected, which will bring the price down to the 2/8 support (1.1962). The overcoming of the 4/8 level (1.2207) will cancel this scenario. In this case, the price may reach resistance 5/8 (1.2329).
On M15, the VoltyChannel bottom line is too far away from the current price, therefore a break-down of the 3/8 level (1.2085) in the H4 period will be a signal for quotes to fall.
