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 and 1/8 levels. If the price breaks the 8/8 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.
At the M15 chart, the pair may break the downside line of the VoltyChannel indicator again and, as a result, fall towards 1.2085.
GBP USD, “Great Britain Pound vs US Dollar”
At the H4 chart, the GBP/USD pair is expected to test the 5/8 level, rebound from it, and then continue growing with the target at the 6/8 one.
At the H1 chart, the price may break the 7/8 level and then fall to test the 6/8 one.
At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, fall towards 1.3793.
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.