Murrey Math Lines 30.01.2023 (EURUSD, GBPUSD)
EURUSD, “Euro vs US Dollar”
On H4, the quotes are above the 200-day Moving Average, which indicates prevalence of an uptrend. The RSI has bounced off the support line. As a result, a test of 7/8 (1.0925) should be expected, followed by a breakaway and growth to the resistance level of 8/8 (1.0986). The scenario can be cancelled by a downward breakaway of the support level of 6/8 (1.0864). In this case, the pair may fall to 4/8 (1.0742).
On M15, an additional signal of growth will be a breakaway of the upper border of VoltyChannel.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4, the quotes are also above the 200-day Moving Average, being in an uptrend, and the RSI has bounced off the support line. The quotes are now expected to rise above 6/8 (1.2451) and grow to the resistance level of 7/8 (1.2573). The scenario can be cancelled by a downward breakaway of the support level of 5/8 (1.2329). This may bring the price down to 4/8 (1.2207).
On M15, a breakaway of the upper line of VoltyChannel will increase the probability of further price growth.
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