EURUSD, "Euro vs US Dollar"
EURUSD quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI has rebounded from the resistance line. In this situation, a downward breakout of the 2/8 (1.0559) mark is expected, followed by a decline to the support at 0/8 (1.0498). The scenario can be cancelled by rising above the resistance at 3/8 (1.0589). In this case, the pair could rise to 5/8 (1.0650).
On M15, the price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.
GBPUSD, "Great Britain Pound vs US Dollar"
The situation is similar on the GBPUSD chart: the quotes are under the 200-day Moving Average, indicating the prevalence of a downtrend, and the RSI has rebounded from the resistance line. In this situation, a downward breakout of 2/8 (1.2085) is expected, followed by a decline to the support level of 0/8 (1.1962). The scenario can be cancelled by rising above 3/8 (1.2146), which could provoke a rise to the resistance at 4/8 (1.2207).
On M15, a breakout of the lower boundary of the VoltyChannel might increase the probability of a price decline.
