Murrey Math Lines: EURUSD, GBPUSD
|EURUSD, “Euro vs. US Dollar”
In the H4 chart, EURUSD is consolidating between the 3/8 and 5/8 levels. In this case, the price is expected to test the 5/8 level, rebound from it, and then resume falling towards the 3/8 one.
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 moving downwards.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is consolidating between the 3/8 and 5/8 levels. The price is expected to test the 3/8 level, rebound from it, and then resume growing to reach the 4/8 one.
In the H1 chart, the instrument is trading inside the “oversold zone”. In this case, the price is expected to break the -1/8 level and then continue growing towards the 0/8 one.
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