Murrey Math Lines: EUR/USD, GBP/USD
|EUR/USD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is moving below 3/8. In this case, the price is expected to continue falling to reach the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may start a new growth towards the resistance at 4/8.
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.
GBP/USD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is still moving close to 3/8. In this case, the pair may continue falling towards the support at 1/8. However, this scenario may no longer be valid if the price breaks 3/8 and fixes above it. After that, the instrument may continue trading upwards to reach the resistance at 5/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue the descending tendency.
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