Murrey math lines: EUR/USD, GBP/USD
|EUR/USD, “Euro vs US Dollar”
EUR/USD quotes have broken above the 200-day Moving Average on D1, indicating the potential development of an uptrend. The RSI has surpassed the resistance line. In this situation, the price is expected to rise further to 6/8 (1.0986). The scenario might be cancelled by a breakout of the 5/8 (1.0864) level, pushing the pair down to the 4/8 (1.0772) support level.
On M15, the upper line of the VoltyChannel is broken, which increases the probability of a price rise.
GBP/USD, “Great Britain Pound vs US Dollar”
GBP/USD quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI has surpassed the resistance line. In this situation, the price is expected to rise further to 5/8 (1.2695). The scenario could be cancelled by a breakout of the 3/8 (1.2573) level, which might lead to a trend reversal, pushing the pair to the 2/8 (1.2451) support level.
On M15, the upper line of the VoltyChannel is broken, which indicates a prevailing uptrend and increases the probability of a price rise.
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