Murrey Math Lines: EUR/USD, GBP/USD
|EUR/USD, “Euro vs. US Dollar”
In the H4 chart, EUR/USD rebounded from the support at 0/8 last Friday. In this case, the price is expected to resume continue trading upwards to reach the resistance at 3/8. However, this scenario may no longer be valid if the price breaks 0/8 to the downside. After that, the instrument may continue falling towards the support at -2/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, may continue moving upwards.
GBP/USD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBP/USD is still moving between 5/8 and 6/8. In this case, the price is expected to break 6/8 and then continue growing to reach the resistance at 7/8. However, this scenario may no longer be valid if the price breaks 5/8. After that, the instrument is expected to continue falling towards the support at 3/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
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