Murrey math lines: EUR/USD, GBP/USD
|EUR/USD, "Euro vs US Dollar"
EUR/USD quotes have broken the 200-day Moving Average on H4 and are currently above it, indicating the development of an uptrend. The RSI has broken the resistance line. As a result, in this situation, the 4/8 (1.0864) level is expected to break, with the price rising to the resistance at 5/8 (1.0894). The scenario could be cancelled by a breakout of the support at 3/8 (1.0833), in which case the pair could drop to 1/8 (1.0772).
On M15, the upper boundary of the VoltyChannel is broken, increasing the probability of further price growth.
GBP/USD, "Great Britain Pound vs US Dollar"
On the GBP/USD chart, the situation is similar. The quotes broke the 200-day Moving Average and remained above it, indicating an uptrend development, while the RSI breached the resistance line. In this situation, the quotes are expected to rise above 8/8 (1.2695), subsequently reaching the resistance at +1/8 (1.2576). The scenario could be cancelled by breaking the 7/8 (1.2634) level, in which case, the pair could drop to the support at 6/8 (1.2573).
On M15, the upper boundary of the VoltyChannel is broken, increasing the probability of a further price rise.
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