Murrey Level Analysis for EUR/USD and GBP/USD: July 16, 2018
EUR/USD
On H4, the EUR/USD is back to a consolidation range, while we can expect the price to rise to the 5/8 resistance.
On H1, the price has broken out the 3/8 level, which may be followed with the further rise till the first target at 5/8.
On M15, the upper VoltyChannel line has been broken out, which signals a likely price rise.
GBP/USD
On H4, the GBP/USD is trading within a consolidation range between 3/8 and 5/8. Once 5/8 gets broken out, the price may rise further to reach the resistance at 8/8.
On H1, 1/8 breakout may lead to further growth till the resistance at 3/8.
On M15, the upper VoltyChannel line has been broken out, which signals a likely price rise.
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