EURUSD, “Euro vs US Dollar”
EURUSD quotes have risen above 0/8 (1.0681), escaping the oversold area. The RSI is testing the resistance line. In this situation, the quotes are expected to grow above the 1/8 (1.0803) level, subsequently reaching the resistance at 2/8 (1.0864). The scenario could be cancelled by a downward breakout of the support at 0/8 (1.0742). In this case, the pair could drop to -1/8 (1.0681).
On M15, a breakout of the upper boundary of the VoltyChannel could increase the probability of the price rise.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is testing the resistance line. In this situation, a rebound from the 3/8 (1.2634) level is expected, followed by a price decline to the support at 1/8 (1.2512). The scenario could be cancelled by rising above 3/8 (1.2512), which could entail a trend reversal and make the pair grow to the resistance at 4/8 (1.2695).
On M15, after a breakout of the 3/8 (1.2634) level, the decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.
