EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, EURUSD is trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the price is expected to continue falling to reach the support at -1/8. Still, this scenario may no longer be valid if the price breaks the resistance at 2/8 to the upside. After that, the instrument may reverse and correct up to 4/8.
In the M15 chart, after breaking the downside line of the VoltyChannel indicator, the pair may continue its decline.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is also trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 2/8, break it, and then continue falling to reach the support at 1/8. However, this scenario may no longer be valid if the price breaks the resistance 3/8 to the upside. After that, the instrument may reverse and grow towards 4/8.
As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.
Source: Roboforex
