As we can see in the H4 chart, EURUSD is within the “overbought area”. In this case, the price is expected to break 8/8 and then continue falling to reach the support at 6/8. Still, this scenario may no longer be valid if the price breaks the resistance at 1/8 to the upside. After that, the instrument may reverse and grow towards the next resistance at 2/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, after breaking the 200-day Moving Average, GBPUSD is also trading above it, thus indicating an ascending tendency. In this case, the price is expected to test 4/8, break it, and then continue growing to reach the resistance at 5/8. However, this scenario may no longer be valid if the price breaks the support 3/8 to the downside. After that, the instrument may fall towards 2/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, continue its growth.
