Murrey Math Lines 07.09.2020 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
On H4, the quotations have broken through 5/8 and are trading in a consolidation range. Further falling to 4/8 is expected. The scenario may be canceled if the quotations break 5/8 upwards, proceeding to the nearest resistance at 6/8.
On M15, a breakaway of the lower border of VoltyChannel confirms probable falling once again.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the quotations are also trading in a consolidation range. A breakaway of 4/8 and further falling to 3/8 are expected. Such a scenario may no longer be valid if 5/8 is broken away, which may lead the price to the resistance at 6/8.
On M15, the lower border of VoltyChannel is broken away. This confirms the probability of falling to 3/8 on H4.
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