Murrey Math Lines 30.08.2021 (EURUSD, GBPUSD)
EURUSD, “Euro vs US Dollar”
As we can see in the H4 chart, EURUSD has reached the downside border of the range at 3/8. In this case, the price is expected to rebound from this level and resume falling to reach the support at 1/8. Still, this scenario may no longer be valid if the price breaks 3/8 to the upside. After that, the instrument may continue growing and reach the next resistance at 4/8.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue its decline.
GBPUSD, “Great Britain Pound vs US Dollar”
As we can see in the H4 chart, GBPUSD is trading below the 200-day Moving Average, thus indicating a descending tendency. In this case, the asset is expected to test 2/8, rebound from it, and then resume falling towards the support at 0/8. However, this scenario may no longer be valid if the price breaks 2/8 to the upside. After that, the instrument may grow to reach the resistance at 3/8.
In the M15 chart, the downside line of the VoltyChannel indicator is pretty far away from the price, that’s why the pair may resume the descending tendency only after rebounding from 2/8 from the H4 chart.
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