Murrey math lines: EUR/USD, GBP/USD
|EUR/USD, “Euro vs US Dollar”
EUR/USD quotes have broken below the 200-day Moving Average on D1, indicating a potential downtrend. The RSI has breached the support line. In this situation, the price is expected to break below the 4/8 (1.0772) level and decline to the support at 3/8 (1.0620). The scenario could be cancelled by a rebound from the 4/8 (1.0772) level, which might lead to a rise to the resistance at 5/8 (1.0864).
On M15, the lower line of the VoltyChannel is broken, which increases the probability of a price decline.
GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD quotes remain in the overbought area on D1. The RSI has breached the support line. In this situation, the price is expected to break below the 8/8 (1.2695) level and decline to the support at 7/8 (1.2573) support. The scenario could be cancelled by surpassing the +1/8 (1.2817) level. In this case, the pair might rise to the resistance at +2/8 (1.2939).
On M15, the lower line of the VoltyChannel is broken, which increases the probability of a price decline.
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