EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is trading inside the “oversold zone”. In this case, the price may break the -1/8 level and continue its growth to reach the resistance at the 0/8 one.
In the H1 chart, the pair may test the 0/8 level, rebound from it, and then move upwards to reach the resistance at the 3/8 one.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is trading inside the “oversold zone”. In this case, the price is expected to break the 0/8 level and continue trading to reach the resistance at the 1/8 level.
However, as we can see in the H1 chart, the pair is no longer consolidating; right now, it is trading below the 3/8 level. In the future, the price may continue moving downwards to reach the support at the 0/8 level.
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 trading downwards.
