EURUSD, “Euro vs US Dollar”
EURUSD quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI is approaching the oversold area. In this situation, a rebound from 6/8 (1.1108) is expected, followed by a rise to the resistance level of 8/8 (1.1230). The scenario can be cancelled by a downward breakout of the support at 6/8 (1.1108). In this case, the pair could continue falling and might drop to 5/8 (1.1074).
On M15, the growth of the pair might be additionally supported by a breakout of the upper boundary of the VoltyChannel.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI has broken the resistance line. In these circumstances, a test of 6/8 (1.2939) is expected, followed by a rise to the resistance at 7/8 (1.3061). The scenario can be cancelled by a downward breakout of 5/8 (1.2817), which could lead to a trend reversal and a drop to the support level of 4/8 (1.2695).
On M15, a breakout of the upper line of the VoltyChannel could increase the probability of a price increase.
