EUR USD, “Euro vs. US Dollar”
As we can see 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. Possibly, the instrument may yet test the 2/8 level.
The lines at the H4 and H1 charts are completely the same and confirm the scenario described above.
GBP USD, “Great Britain Pound vs US Dollar”
At the H4 chart, the GBP/USD pair may break the 6/8 level. In this case, the instrument may continue growing with the target at the 7/8 one.
At the H1 chart, the price may also trade downwards. In case the pair rebounds from the 8/8 level, the instrument may fall towards the support at the 5/8 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.