Murrey math lines: EUR/USD, GBP/USD

Murrey math lines: EUR/USD, GBP/USD

EUR/USD, “Euro vs. US Dollar”

In the H4 chart, EURUSD is no longer moving inside the “overbought area”. In this case, the pair is expected to fall to break 5/8 and then continue trading downwards to reach the support at 4/8. However, this scenario may no longer be valid if the price breaks the resistance at 8/8 to the upside. After that, the instrument may continue growing to reach +1/8.

EURUSD

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.

EURUSD

 

GBP/USD, “Great Britain Pound vs US Dollar”

In the H4 chart, GBPUSD is consolidating. The main scenario implies that the pair may break 4/8 to the downside and then continue falling towards the closest support at 3/8. However, this scenario may no longer be valid if the price breaks the resistance at 5/8. After that, the instrument may continue growing to reach 6/8.

GBPUSD

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 moving downwards to reach 3/8 from the H4 chart.

GBPUSD

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