Murrey Math Lines: EUR/USD, GBP/USD
|EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD has formed Double Top reversal pattern, which may indicate a possible decline. To confirm this scenario, the pair must break 5/8. In this case, the target will be at 3/8. However, this scenario may no longer be valid if the price breaks 6/8. After that, the instrument may continue moving upwards to reach the resistance at 8/8.
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.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, bulls haven’t been able to reach 2/8. In this case, the pair is expected to resume falling towards the -1/8. However, this scenario may be cancelled if the price breaks 0/8. In this case, the instrument may resume growing to reach the resistance at 2/8.
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.
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