Murrey Math Lines 27.01.2020 (EURUSD, GBPUSD)

EURUSD, “Euro vs. US Dollar”

In the H4 chart, EURUSD is moving below 3/8. In this case, the price is expected to break 1/8 and then continue trading downwards to reach the support at 0/8.

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, continue moving downwards.

GBPUSD, “Great Britain Pound vs US Dollar”

In the H4 chart, there has been a false breakout of 3/8. In this case, GBPUSD is expected to continue falling towards the support at 0/8. However, this scenario may no longer be valid if the price breaks the resistance at 3/8 to the upside. After that, the instrument is expected to continue growing to reach the 5/8.

As we can see in the M15 chart, the pair has broken the downside line of the VoltyChannel indicator and, as a result, may continue trading downwards to reach 0/8 from the H4 chart.