Murrey Math Lines 21.12.2018 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD has rebounded from the resistance at the 8/8 level and may resume falling towards the 5/8 one.
The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD is still trading inside the “oversold zone”. In this case, the price may break the 0/8 level and then continue growing towards the resistance at the 1/8 one.
However, as we can see in the H1 chart, the pair has rebounded from the resistance at the 8/8 level and may resume moving downwards to reach the 5/8 one. As long as the price is trading below the 8/8 level, it may rather fall than grow.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue falling.
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