EURUSD, “Euro vs US Dollar”
EURUSD quotes are near the 200-day Moving Average on H4, which indicates the absence of any trend. The RSI has broken the resistance line. In these circumstances, the price is expected to break the 5/8 (1.1074) level and continue to grow to the resistance at 6/8 (1.1108). The scenario can be cancelled by a downward breakout of the support at 4/8 (1.0986). In this case, the pair might drop to 3/8 (1.0925).
On M15, price growth might be additionally supported by a breakout of the upper boundary of the VoltyChannel.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD quotes are above the 200-day Moving Average on H4, indicating a prevailing uptrend. The RSI has broken the resistance line. In these circumstances, the quotes are expected to test the 2/8 (1.2939) level, break it and rise to the resistance at 3/8 (1.3061). The scenario can be cancelled by a downward breakout of 1/8 (1.2817), which might lead to a trend reversal and a decline to the support at 0/8 (1.2695).
On M15, another breakout of the upper line of the VoltyChannel will increase the probability of a price increase.
