Murrey Math Lines: EUR/USD, GBP/USD
|EURUSD, "Euro vs. US Dollar"
At the H4 chart, the EUR/USD pair is expected to continue growing towards the resistance at the 6/8 level. However, an alternative scenario implies that the price may test the 5/8 level first, rebound from it, and then move upwards to reach the main target.
As we can see at the H1 chart, the price is trading close to the 3/8 level. In case the pair breaks it, the instrument may continue growing towards the 4/8 and 5/8 ones. However, the price may yet try to test the 2/8 level.
As we can see at the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.
GBPUSD, "Great Britain Pound vs US Dollar"
At the H4 chart, yesterday the GBP/USD pair rebounded from the 5/8 level and right now is trading close to the 6/8 one. If later this level is broken, the instrument may continue growing to reach the 7/8 one.
At the H1 chart, the price is consolidating between the 3/8 and 5/8 levels. The price is expected to test the 3/8 level, rebound from it, and then continue growing to reach the 6/8 one.
As we can see at the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue growing.
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