EUR USD, “Euro vs. US Dollar”
At the H4 chart, the EUR/USD pair is trading inside the “overbought zone” above the 8/8 level. If the price breaks this level downwards, it may resume falling towards the 6/8 one.
As we can see at the H1 chart, the price is also trading above the resistance level inside the “overbought zone”. In case the pair breaks the 8/8 level, the instrument may fall towards the support at the 5/8 one, break it as well, and then continue moving downwards to reach the 4/8 level.
At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, fall towards 1.2085.
GBP USD, “Great Britain Pound vs US Dollar”
As we can see at the H4 chart, the GBP/USD pair is trading inside the “overbought zone” above the 1/8 level. If later this level is broken downwards, the instrument may resume falling to reach the 8/8 one.
The lines at the H4 and H1 charts are completely the same and confirm the scenario described above.
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.