EUR USD, “Euro vs. US Dollar”
As we can see at the H4 chart, the EUR/USD pair is consolidating between the 3/8 and 5/8 levels. Later, the price is expected to test the 5/8 level at 1.2023, break it to the upside, and then continue growing towards the resistance at the 8/8 level at 1.2207.
At the H1 chart, the pair may fix above the 5/8 at 1.1993 and, as a result, continue moving upwards to reach the resistance at the 8/8 one at 1.1840. If later the price breaks it, the instrument may grow towards 1.2207.
As we can see at the M15 chart, the price has broken the upside line of the VoltyChannel indicator. As a result, the pair may continue growing.
GBP USD, “Great Britain Pound vs US Dollar”
At the H4 chart, the GBP/USD pair is expected to test the resistance at the 8/8 level at 1.3671, rebound from it, and then continue falling towards the 5/8 one at 1.3305.
The levels at the H4 and H1 charts are completely the same and the future scenario is pretty similar. However, there is one more possible scenario, which implies that the price may start falling after rebounding from the 7/8 level at 1.3549 without testing the 8/8 one.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.