EURUSD, “Euro vs. US Dollar”
In the H4 chart, after breaking 5/8, EURUSD is consolidating. In this case, the price is expected to continue falling towards the support at 3/8. However, this scenario may no longer be valid if the price breaks the resistance at 5/8 to the upside. After that, the instrument may continue growing to reach the closest resistance at 6/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is no longer moving inside the “overbought area”. The current situation implies that the price may break 7/8 and then continue falling with the target at 6/8. However, this scenario may no longer be valid if the price breaks 8/8 to the upside. After that, the instrument may continue growing to reach the resistance at +1/8.
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 moving downwards to reach 6/8 from the H4 chart.
