EURUSD, “Euro vs US Dollar”
EURUSD quotes are in the overbought area on H4. The RSI has rebounded from the resistance line. In this situation, a test of 0/8 (1.0986) is expected, followed by a breakout of this level and a decline to the support at 6/8 (1.0864). The scenario could be cancelled by rising above the resistance at +1/8 (1.1047). In this case, the pair could rise to the +2/8 (1.1108) level.
On M15, the price decline might additionally be supported by a breakout of the lower boundary of the VoltyChannel.
GBPUSD, “Great Britain Pound vs US Dollar”
On the GBPUSD chat, the situation is similar. On H4, the quotes are in the overbought area, and the RSI has rebounded from the resistance line. In this situation, a downward breakout of 0/8 (1.2695) is expected, followed by a decline to the support at 6/8 (1.2573). The scenario could be cancelled by rising above the resistance at +1/8 (1.2756), in which case the pair might rise to +2/8 (1.2817).
On M15, a breakout of the lower boundary of the VoltyChannel could increase the probability of the price decline.
