Murrey Math Lines: Gold, EUR/GBP
|XAUUSD, “Gold vs. US Dollar”
As we can see at the H4 chart, the XAU/USD pair has reached the 3/8 level at 1296.88. The price is expected to rebound from this level and resume falling towards the support at the 0/8 one at 1250.00.
At the H1 chart, the pair is trading near the resistance at the 8/8 at 1296.88, which also confirms that it may resume moving downwards. The first downside target is at the 5/8 level at 1285.16. if this level is broken, the instrument may continue falling to reach 1250.00.
At the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling.
EURGBP, “Euro vs Great Britain Pound”
At the H4 chart, yesterday the EUR/GBP pair failed to fix above the 3/8 level at 0.8972, which means that it may continue moving downwards to reach the support at the 0/8 level at 0.8789.
At the H1 chart, the pair is expected to test the 5/8 level at 0.8941. If the price rebounds from this level, the instrument may continue falling towards 0.8789.
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