EUR/USD, “The Euro versus the US Dollar
The price of the EUR/USD is above its 200-day moving average on the H4 chart, indicating that an upward trend is taking place. The RSI is floating in the oversold territory. In this situation, a bounce is expected from 5/8 (1.0864), followed by a rise to the resistance at 6/8 (1.0986). This scenario could be canceled by a downward break of the support at 5/8 (1.0864). In this case, the pair could fall to the 4/8 level (1.0742).
GBP/USD, “Pound Sterling to US Dollar
The price of the GBP/USD has reached the over-sold region on the H4 chart. The RSI is approaching the resistance line. Under these circumstances, a bounce from 8/8 (1.2695) is expected, followed by a decline to the support at 6/8 (1.2451). The scenario could be canceled with a rise above the 8/8 (1.2695) level. In this case, the pair could rise to the resistance at +1/8 (1.2329).
