In the H4 chart, EURUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to rebound from 3/8 and resume falling to reach the support at 2/8. Still, this scenario may no longer be valid if the price breaks the resistance at 3/8 to the upside. After that, the instrument may continue growing towards 5/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue its decline.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart of GBPUSD, the price is also trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the asset is expected to test 3/8, rebound from it, and then resume falling towards the support at 1/8. However, this scenario may no longer be valid if the price breaks the resistance at 3/8 to the upside. After that, the instrument may reverse and grow to reach 5/8.
As we can see in the M15 chart, the price has broken the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
