Murrey Math Lines: EURUSD, GBPUSD
|EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD has rebounded from the 5/8 level and may continue growing towards the resistance at the 8/8 one.
In the H1 chart, the scenario may be a bit different. The pair may rebound from the 3/8 level and resume falling to reach the support at the 0/8 one.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving to the upside.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is no longer trading inside the “overbought zone”. In this case, the price is expected to continue falling towards the 5/8 level.
The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.
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 trading downwards.
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