In the H4 chart, after rebounding from 0/8, EURUSD is expected to correct upwards and reach 2/8. However, this scenario may no longer be valid if the price breaks 1/8 to the downside. After that, the instrument may continue falling towards the support at 0/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue its growth.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is above the 200-day Moving Average within the “overbought area”, thus indicating an ascending tendency. In this case, the price is expected to break 1/8 and then continue growing towards the resistance at 2/8. However, this scenario may no longer be valid if the price breaks the support at 8/8 to the downside. After that, the instrument may continue falling and reach 7/8.
As we can see in the M15 chart, the price has broken the upside line of the VoltyChannel indicator and, as a result, continue trading upwards to reach 2/8 from the H4 chart.
