GBP USD, “Great Britain Pound vs US Dollar”
At the H4 chart, the GBP/USD pair is expected to test the 3/8 level at 1.3061, rebound from this level, and resume growing towards the 5/8 one at 1.3305.
As we can see at the H1 chart, the pair is trading inside the “oversold zone” below the 0/8 level at 1.3183. If the price breaks this level, it may grow towards 1.3305 without testing 1.3061.
At the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue growing towards 1.3305.
USD CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, the USD/CAD pair has reached the resistance at the 8/8 level at 1.2695. The price is expected to rebound from this level and then resume falling towards the 5/8 one at 1.2329.
At the H1 chart, the pair is also trading close to the resistance at the 8/8 level at 1.2695, thus confirming the H4 chart scenario.
At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue moving downwards to reach 1.2329.
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.