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 approaching the support line. In this situation, a test of 1/8 (1.0864) is expected, followed by a bounce from this level and a rise to the resistance at 2/8 (1.0986). The scenario could be canceled by a downward break of 1/8 (1.0864), in which case prices could fall to 0/8 (1.0742).
GBP/USD, “Pound Sterling to US Dollar
The price of the GBP/USD has breached the 8/8 level (1.2695) on the H4 chart, exiting the over-bought region. The RSI is testing the support line. In this situation, a further decline to the 6/8 (1.2573) level is expected. This scenario could be canceled with a rise above the resistance at 8/8 (1.2695), in which case the pair could return to +1/8 (1.2756).
