EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD continues consolidating between 3/8 and 5/8. In this case, the price is expected to break 4/8 and 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 moving below 7/8. In this case, the price is expected to break 6/8 and then continue falling towards the support at 5/8. Another scenario implies that the asset may test 7/8, rebound from it, and then resume trading downwards to reach 5/8. However, both scenarios may no longer be valid if the price breaks the resistance at 7/8. After that, the instrument may continue growing to reach 8/8.
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.
