Murrey Math Lines: EUR/USD, GBP/JPY
|EURUSD, "Euro vs US Dollar"
The EUR/USD pair continues moving upwards. The closest target for bulls is at the +1/8 level. If later the price rebounds from this level, the market may start a new correction. In this case, the pair may reach the 7/8 level.
At the H1 chart, the pair is moving inside the "overbought zone". If later the price rebounds from the +2/8 level, the market may start a new correction towards the 6/8 one.
GBPJPY "Great Britain Pound vs Japanese Yen"
The GBP/JPY pair rebounded from the daily Super Trend and the 4/8 level several times. If the price is able to stay below the 3/8 level, the market may continue falling towards the 0/8 one and then start a new bullish correction.
As we can see at the H1 chart, the 7/8 level provided resistance and Super Trends formed "bearish cross". The closest target for bears is the 4/8 level.
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