Murrey math lines: EUR/USD, GBP/USD
|EUR/USD, “Euro vs. US Dollar”
In the H4 chart, after breaking the 200-day Moving Average to the downside, EURUSD is no longer consolidating. In this case, the price is expected to continue falling towards the closest support at 2/8. However, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue trading upwards to reach 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 its decline towards 2/8 from the H4 chart.
GBP/USD, “Great Britain Pound vs US Dollar”
In the H4 chart, after rebounding from 8/8, GBPUSD is expected to fall towards the support at 5/8. Another signal in favor of this idea will be a breakout of 6/8. However, this scenario may no longer be valid if the price breaks the resistance at 7/8 to the upside. After that, the instrument may recover and reach 8/8.
As we can see in the M15 chart, the price has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards.
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