Murray Math Analysis: GBP/USD, EUR/CAD
|GBP/USD
The GBP/USD pair is trading within the channel formed by 3/8 and 5/8 levels. If the 5/8 level (1.3000) is broken, the price can move higher towards 8/8 level (1.3183). If the price rebounds from 5/8 level, this can lead the price to move lower towards 3/8 level (1.2878).
On the H1-chart the Murray lines a aligned completely, and this is confirmed by the scenario on H4-chart.
The breakout of the lower line of VoltyChannel indicator on M15-chart will lead to lower prices near 1.2878. If 1.3000 is broken, this will lead to higher prices around 1.3183.
EUR/CAD
The EUR/CAD pair on the H4-chart is trading at a support level 0/8 (1.4648). If this one is broken, the price can move highet towards 3/8 (1.5014).
The pair is moving between the 3/8 and 5/8 levels on the H1-chart. In case the pair lowers, it can rebound from the 3/8 level, while further rise and a breakout of 5/8 level (1.4709) will bring the pair to 1.5014 mark.
A breakout of the upper line of VoltyChannel indicator on the M15-chart can trigger a rise of the price towards 1.4709 and possible breakout of this level to reach further towards 1.5014.
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