Murrey math lines: EUR/USD, GBP/USD
|EUR/USD, “Euro vs US Dollar”
EURUSD quotes are on the 200-day Moving Average on H4, revealing a lack of any trend. The RSI is testing the support line. As a result, in this situation, the quotes are expected to rise above 3/8 (1.0833), later reaching the resistance at 5/8 (1.0894). The scenario could be cancelled by a downward breakout of the support at 2/8 (1.0803), in which case the pair might drop to the 0/8 (1.0742) level.
On M15, a breakout of the upper boundary of the VoltyChannel could increase the probability of the price increase.
GBP/USD, “Great Britain Pound vs US Dollar”
GBPUSD quotes have rebounded from the resistance level of 8/8 (1.2695) on H4. The RSI has broken the support line. In this situation, a breakout of 7/8 (1.2634) is expected, followed by a price drop to the support at 6/8 (1.2573). The scenario could be cancelled by rising above 8/8 (1.2695). In this case, the quotes might grow to the resistance at +1/8 (1.2756).
On M15, the price decline could be additionally supported by a breakout of the lower boundary of the VoltyChannel.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.