EURUSD quotes have rebounded from the 0/8 (1.0742) level on H4 and started growing. The RSI has risen above the resistance line. In this situation, the quotes are expected to rise above 1/8 (1.0803), subsequently reaching the resistance at 2/8 (1.0864). The scenario could be cancelled by a downward breakout of the support at 0/8 (1.0742), in which case the pair might fall to the -1/8 (1.0681) level.
On M15, the upper boundary of the VoltyChannel is broken. This increases the probability of a further price rise.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD quotes are below the 200-day Moving Average on H4, revealing the prevalence of a downtrend. The RSI is testing the resistance line. In this situation, a rebound from 3/8 (1.2634) is expected, followed by a price decline to the support at 2/8 (1.2573). The scenario could be cancelled by rising above 3/8 (1.2634). In this case, the pair might climb to the resistance at 4/8 (1.2695).
On M15, the lower boundary of the VoltyChannel is too far from the current price, so the decline can start after a rebound from the 3/8 (1.2634) level 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.