Murrey Math Lines 06.10.2017 (EUR/USD, GBP/USD)

EUR USD, “Euro vs. US Dollar”

At the H4 chart, the EUR/USD pair broke the support at the 0/8 level at 1.1718, just as expected. At the moment, the price is expected to test the -2/8 level at 1.1596.

At the H1 chart, the pair may break the -1/8 level at 1.1688 and continue falling towards 1.1596.

GBP USD, “Great Britain Pound vs US Dollar”

As we can see at the H4 chart, the GBP/USD pair is getting closer to the 3/8 level at 1.3061. Later, the price is expected to rebound from this level and start another correction towards the 4/8 or 5/8 levels.

At the H1 chart, the pair is trading “inside the oversold zone” below the 0/8 level., which means that the price may start a new correction to the upside.

At the M15 chart, the pair may break the upside line of the VoltyChannel indicator and, as a result, continue slowly growing to reach 1.3183 or even 1.3305.

RoboForex Analytical Department