Wednesday, February 11, 2015

RESISTANCE TRENDLINE IN GBPUSD (CABLE) 11/02/15


• 1.5255: the falling trend line from Friday’s 5-week high (the top of the potential wedge formation).
• 1.5274: micro term Fibonacci 50% retracement, calculated for the falling move from Friday’s 5-week high 1.5352 to yesterday's daily low 1.5196.
• 1.5292: micro term Fibonacci 61.8% retracement, calculated for the falling move from Friday’s 5-week high 1.5352 to yesterday's daily low 1.5196.
• 1.5307: micro term 71.4% retracement, calculated for the falling move from Friday’s 5-week high 1.5352 to yesterday's daily low 1.5196.
• 1.5330: the top of the daily channel which can be drawn using recent bottoms, if we put the upper line of the channel at September’s top.
• 1.5352: Friday’s 5-week high.
• 1.5378: Aug 4th 2013 daily high.
• 1.5400: the top of the daily channel which can be drawn using recent bottoms, if we put the upper line of the channel at July’s top.
• 1.5434: Jul 24th 2013 daily high.
• 1.5475: medium term Dow 33.3% retracement level, calculated for the falling move from September’s Scottish referendum high 1.6524 to Jan 23rd 19-month low 1.4951.
• 1.5504: Dec 24th daily low.
• 1.5552: medium term Fibonacci 38.2% retracement level, calculated for the falling move from the Scottish referendum high 1.6524 to Jan 23rd’s 19-month low 1.4951.
• 1.5625: medium term 42.9% retracement level, calculated for the falling move from the Scottish referendum high 1.6524 to Jan 23rd’s 19-month low 1.4951.
• 1.5738: medium term Fibonacci 50% retracement level, calculated for the falling move from the Scottish referendum high 1.6524 to Jan 23rd’s 19-month low 1.4951.

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