EURUSD 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.
GBPUSD, “Great Britain Pound vs US Dollar”
GBPUSD 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.
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.