EURUSD, “Euro vs US Dollar”
EURUSD 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 downward breakout of the 2/8 (1.0864) level is expected, followed by a price decline to the support at 1/8 (1.0803). The scenario might be cancelled by rising above the resistance level of 3/8 (1.0925), which could lead to a trend reversal and a price rise to the 4/8 (1.0986) level.
On M15, the price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD quotes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. In this situation, the quotes are expected to rise above 5/8 (1.2756), subsequently reaching the resistance at 7/8 (1.2817). The scenario could be cancelled by a downward breakout of the support at 4/8 (1.2695), in which case, the pair might drop tp the 3/8 (1.2634) level.
On M15, the upper boundary of the VoltyChannel is broken, which increases the probability of a further price rise.
