EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to break 1/8 and then continue falling to reach the support at 0/8. Still, this scenario may no longer be valid if the price breaks the resistance at 2/8 to the upside. After that, the instrument may correct upwards and reach 3/8.
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 its decline.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart of GBPUSD, the price is also trading below the 200-day Moving Average, thus indicating a descending tendency; right now, it is rebounding from 2/8. In this case, the asset is expected to complete the correction and then resume falling towards 0/8. However, this scenario may no longer be valid if the price breaks the resistance at 2/8 to the upside. After that, the instrument may continue the correction to reach 3/8.
In the M15 chart, the price may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
