On H4, the quotes are above the 200-day Moving Average, which indicates prevalence of an uptrend. The RSI has bounced off the support level. In the end, the quotes are expected to rise above 7/8 (1.0620) and next grow to the resistance level of 8/8 (1.0742). The scenario can be cancelled by a downward breakaway of the support level of 6/8 (1.0498). In this case, the pair may fall to 5/8 (1.0376).
On M15, an additional signal confirming the growth will be a breakaway of the upper border of VoltyChannel.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the quotes are also above the 200-day Moving Average, indicating an uptrend, while the RSI has bounced off the support level. A test of 6/8 (1.2207) is expected, followed by a breakaway and growth to the resistance level of 7/8 (1.2451). The scenario can be cancelled by a downward breakaway of the support level of 5/8 (1.2207), which might lead to a trend reversal and falling to 4/8 (1.1718).
On M15, a breakaway of the upper line of VoltyChannel will increase the probability of growth to 7/8 (1.2451) on H4.
