Murrey Math Lines 07.08.2017 (GBP/USD, USD/CHF)

GBP USD, “Great Britain Pound vs US Dollar”

As we can see at the H4 chart, the GBP/USD pair reached the target at the 5/8 level at 1.3000. The price is expected to rebound from it and test the 8/8 level at 1.3183 again.

At the H1 chart, the price may break the 6/8 level at 1.3061). In this case, the pair may continue growing to reach the 8/8 level at 1.3183. If the price reaches the 5/8 level at 1.3000, it may rebound and resume growing towards the 8/8 one.

USD CHF, “US Dollar vs Swiss Franc”

As we can see at the H4 chart, the USD/CHF pair rebounded from the 8/8 level. In the future, the price is expected to fall towards the 5/8 level at 0.9582.

At the H1 chart, there are two possible scenarios. The first one implies that the pair may reach the 8/8 level at 0.9765, rebound from it, and then fall towards the 5/8 one at 0.9582. According to the second scenario, the price may break the 7/8 level at 0.9704 and then start falling towards the 5/8 one.

If the pair breaks the downside line of the VoltyChannel indicator at the M15 chart, the price may fail to grow and reach 0.9765.

RoboForex Analytical Department