As we can see in the H4 chart, EURUSD is trading within the “oversold area”. In this case, the price is expected to break 0/8 and then continue growing to reach the resistance at 2/8. Still, this scenario may no longer be valid if the price breaks -1/8 to the downside. After that, the instrument may continue falling and reach the support at -2/8.
In the M15 chart, the pair may break 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 approaching the “oversold area”. In this case, the asset is expected to test 0/8, rebound from it, and then resume growing towards the resistance at 2/8. However, this scenario may no longer be valid if the price breaks 0/8 to the downside. After that, the instrument may continue falling to reach the support at -1/8.
As we can see in the M15 chart, the upside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume the ascending tendency only after rebounding from 0/8 from the H4 chart.
