In the H4 chart, EURUSD is trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the price is expected to break 7/8 and then continue growing to reach the resistance at 8/8. Still, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may correct towards the support at 5/8.
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 to reach 8/8 from the H4 chart.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is also trading above the 200-day Moving Average, thus indicating an ascending tendency. In this case, the asset is expected to break 7/8 and then continue growing towards the resistance at 1/8. However, this scenario may no longer be valid if the price breaks 6/8 to the downside. After that, the instrument may continue the correction to reach the support at 5/8.
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 the ascending tendency.
