EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD has reached the “overbought area”. In this case, the price is expected to rebound from 8/8 and resume falling towards the support at 5/8. However, this scenario may no longer be valid if the price breaks the resistance at 8/8 to the upside. After that, the instrument may continue growing to reach the next resistance at +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is moving inside the “overbought area”. The current situation implies that there might be a “false” breakout of +1/8 and then the price may resume falling towards the support at 7/8. However, this scenario may no longer be valid if the price breaks +1/8 to the upside. After that, the instrument may continue growing to reach +2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.