On H4, the quotes are above the 200-day Moving Average, indicating the prevalence of an uptrend. The RSI is nearing the support line. In these circumstances, a rebound from 3/8 (1.0925) is expected, followed by a rise to the resistance at 5/8 (1.1074). The scenario can be cancelled by a downward breakout of 3/8 (1.0925). In this case, the pair might correct to 2/8 (1.0864).
On M15, the upper line of the VoltyChannel is broken, which increases the probability of further price growth.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, GBPUSD quotes and the RSI are in their respective overbought areas. In this situation, a rebound from 1/8 (1.2817) is expected, followed by a decline to the support at 7/8 (1.2573). The scenario can be cancelled by rising above the resistance level at 1/8 (1.2817), which might lead to an increase to 2/8 (.2939).
On M15, an additional signal confirming the price decline might be a breakout of the lower line of the VoltyChannel.
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.