Murrey Math Lines 04.09.2017 (GBP/USD, EUR/CAD)

GBP USD, “Great Britain Pound vs US Dollar”

As we can see at the H4 chart, the GBP/USD has rebounded from the 5/8 level at 1.3000. Later, the price is expected to resume falling towards the 0/8 one at 1.2695.

At the H1 chart, the price is trading inside the “overbought zone” above the 8/8 level (1.2935). If the price breaks this level, the pair may continue moving downwards to reach 1.2695.

At the M15 chart, the price may break the downside line of the VoltyChannel indicator and, as a result, fall towards 1.2695.

EUR CAD, “Euro vs Canadian Dollar”

At the H4 chart, the EUR/CAD pair is expected to test the support at the 0/8 level at 1.4648, rebound from it, and then resume growing towards the 3/8 one at 1.5014.

As we can see at the H1 chart, if the pair breaks the 2/8 level at 1.4770, it may fail to test 1.4648. In this case, the price may continue growing towards 1.5014.

RoboForex Analytical Department