EUR USD, “Euro vs. US Dollar”
At the H4 chart, the EUR/USD pair is trading inside the “overbought zone” above the 8/8 level. If the price breaks this level downwards, it may resume falling towards the 6/8 one.
As we can see at the H1 chart, the price is also trading above the resistance level inside the “overbought zone”. In case the pair breaks the 8/8 level, the instrument may fall towards the support at the 5/8 one, break it as well, and then continue moving downwards to reach the 4/8 level.
At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, fall towards 1.2085.
GBP USD, “Great Britain Pound vs US Dollar”
As we can see at the H4 chart, the GBP/USD pair is trading inside the “overbought zone” above the +1/8 level. If later this level is broken downwards, the instrument may resume falling to reach the 8/8 one.
The lines at the H4 and H1 charts are completely the same and confirm the scenario described above.
RoboForex Analytical Department