Murrey Math Lines 13.02.2023 (EURUSD, GBPUSD)
EURUSD, “Euro vs US Dollar”
On H4, the quotes are under the 200-day Moving Average, which reveals possible development of a downtrend. The RSI has broken through the support level. We should expect a downward breakaway of 3/8 (1.0620) and falling to the support level of 2/8 (1.0498). The scenario can be cancelled by rising over the resistance level of 4/8 (1.0742). In this case, the pair may rise to 5/8 (1.0864).
On M15, the lower line of VoltyChannel is broken away, increasing the probability of falling..
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the quotes are under the 200-day Moving Average, which indicates possible development of a downtrend. The RSI has broken through the support level. As a result, we expect a test of 2/8 (1.1962), break through it and fall to the support level of 1/8 (1.1840). The scenario can be cancelled by an upward breakaway of the resistance level of 3/8 (1.2085). This might make the pair grow to 4/8 (1.2207).
On M15, the lower line of VoltyChannel is broken away, which reveals prevalence of a downtrend and increases the probability of further falling.
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