On H4, EURUSD quotes rose above 0/8 (1.0742) and escaped the oversold area. The RSI has rebounded from the support line. In these circumstances, an upward breakout of 1/8 (1.0803) is expected, followed by a rise to the resistance level of 2/8 (1.0864). The scenario can be cancelled by a downward breakout of 0/8 (1.0742). In this case, the pair might return to -1/8 (1.0681).
On M15, the upper line of the VoltyChannel is broken. This increases the probability of further price growth.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, GBPUSD quotes are above the 200-day Moving Average, revealing the prevalence of an uptrend. The RSI has rebounded from the support line. A test of 6/8 (1.2573) is expected here, followed by a breakout of this level and a rise to the resistance level of 7/8 (1.2634). The scenario can be cancelled by a downward breakout of the support at 5/8 (1.2512), which might lead to a price drop to 4/8 (1.2451).
On M15, a breakout of the upper line of the VoltyChannel will increase the probability of a rise to 7/8 (1.2634) on H4.
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.