Murrey Math Lines 19.12.2022 (EURUSD, GBPUSD)

EURUSD

On H4, the quotes are above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI has bounced off the support level. Currently, growth above 7/8 (1.0620) is expected, followed by growth to the resistance level of 8/8 (1.0742). The scenario can be cancelled by a breakaway of the support level of 6/8 (1.0498). In this case, the pair may drop to 5/8 (1.0376).

On M15, an additional signal confirming growth will be a breakaway of the upper border of VoltyChannel.

GBPUSD

On H4, the quotes are also above the 200-day Moving Average, which indicates the prevalence of an uptrend. The RSI has risen above the resistance level. So, an upward breakaway of 6/8 (1.2207) is expected, followed growth to the resistance level of 7/8 (1.2451). The scenario can be cancelled by a downward breakaway of the support level of 5/8 (1.2207), which might lead to a trend reversal and falling to 4/8 (1.1718).

On M15, a breakaway of the upper border of VoltyChannel will increase the probability of price growth to 7/8 (1.2451) on H4.