EURUSD, “Euro vs US Dollar”
In the H4 chart, EURUSD is still trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 1/8 and continue falling to reach the support at 0/8. Still, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may correct towards the resistance at 3/8.
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 its decline to reach 0/8 from the H4 chart.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart of GBPUSD, the pair also is trading below the 200-day Moving Average to indicate a descending tendency. In this case, the asset is expected to break 1/8 and then continue trading within the downtrend towards the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may correct upwards to reach the resistance at 3/8.
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 falling.
