EURUSD, “Euro vs US Dollar”
EURUSD quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI is approaching the oversold area. In this situation, a test of the 4/8 (1.0864) level is expected, followed by a rebound from this mark and a price rise to the resistance at 7/8 (1.0955). The scenario could be cancelled by a breakout of 4/8 (1.0864), which might lead to a trend reversal and a price decline to 2/8 (1.0832).
On M15, after a rebound from the 4/8 (1.0864) level, the price growth could be additionally supported by a breakout of the upper boundary of the VoltyChannel.
GBPUSD, “Great Britain Pound vs US Dollar”
On the GBPUSD chart, the situation looks similar. The quotes are above the 200-day Moving Average, indicating the prevalence of an uptrend, and the RSI is nearing the overbought area. In this situation, a test of 4/8 (1.2695) is expected, followed by a breakout of this level and a rise to the resistance at 6/8 (1.2817). The scenario might be cancelled by a breakout of 4/8 (1.2695), which could lead to a trend reversal and a price decline to 3/8 (1.2634).
On M15, after a rebound from 4/8 (1.2695), the price growth could be additionally supported by a breakout of the upper boundary of the VoltyChannel.
