Murrey math lines: EUR/USD, GBP/USD
|EUR/USD, “Euro vs US Dollar”
As we can see in the H4 chart, EURUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the price is expected to test 4/8, break it, and then continue falling to reach the support at 2/8. Still, this scenario may no longer be valid if the price breaks 5/8 to the upside. After that, the instrument may reverse and grow towards the resistance at 6/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
GBP/USD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is also trading below the 200-day Moving Average to indicate a possible descending tendency. In this case, the price is expected to break 4/8 and then continue falling to reach the support at 3/8. However, this scenario may no longer be valid if the price breaks the resistance 5/8 to the upside. After that, the instrument may reverse and grow towards 6/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
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