By Areena FxEUR/USD, “Euro vs US Dollar”
EUR/USD qutes are above the 200-day Moving Average on H4, indicating the prevalence of an uptrend. The RSI has rebounded from the support line. In this situation, the quotes are expected to rise above 4/8 (1.0986) and continue growing to the resistance at 5/8 (1.1047). The scenario could be cancelled by a downward breakout of the support at 3/8 (1.0925), which could lead to a trend reversal and a decline to the 2/8 (1.0864) level.
On M15, the growth could be additionally supported by a breakout of the upper boundary of the VoltyChannel.
GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD quotes are above the 200-day Moving Average on H4, revealing the prevalence of an uptrend. The RSI is testing the support line. In this situation, the quotes are expected to rise above 5/8 (1.2756) and reach the resistance at 7/8 (1.2878). The scenario could be cancelled by a downward breakout of the support at 4/8 (1.2695). In these circumstances, the price might drop to the support at 4/8 (1.2695), in which case the pair could drop to the 3/8 (1.2634) level.
On M15, a breakout of the upper boundary of the VoltyChannel could increase the probability of a further price rise.
