Murrey Math Lines 20.07.2020 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
In the H4 chart, after fixing above 7/8, EURUSD is expected to continue growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks the support at 7/8 to the downside. After that, the instrument may continue falling to reach 6/8.
As we can see in the M15 chart, the pair has broken the upside line of the VoltyChannel indicator and, as a result, continue trading upwards.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD rebounded from 5/8 several times earlier. The current situation implies that the price may rebound from the above-mentioned level again and then resume growing towards the resistance at 8/8. However, this scenario may no longer be valid if the price breaks 5/8 to the downside. After that, the instrument may continue falling to reach the support at 3/8.
In the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue moving upwards.
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