EURUSD, “Euro vs. US Dollar”
In the H4 chart, after breaking the upside border of the consolidation range at 5/8, EURUSD is expected to continue growing towards the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may continue falling to reach 3/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue trading upwards.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is consolidating at 5/8. The main scenario implies that the pair may break this level to the upside and then continue growing towards the resistance at 6/8. However, this scenario may no longer be valid if the price breaks at 5/8 to the downside. After that, the instrument may continue falling to reach the support at 4/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards to reach 6/8 from the H4 chart.
