Wednesday, February 18, 2015

RESISTANCE TRENDLINE IN GBPUSD (CABLE) 18/02/15


• 1.5363: micro term Fibonacci 38.2% calculated for the drop from Monday's high 1.5440 to yesterday's low 1.5316.
• 1.5378: an important resistance which combines the falling trend line from Monday's high, with the micro term Fibonacci 50% calculated for the drop from Monday's high 1.5440 to yesterday's low 1.5316.
• 1.5393: micro term Fibonacci 61.8% calculated for the drop from Monday's high 1.5440 to yesterday's low 1.5316.
• 1.5405: micro term 71.4% calculated for the drop from Monday's high 1.5440 to yesterday's low 1.5316.
• 1.5440: Monday's 6-week high.
• 1.5475: an important resistance which combines the rising trend line from Jan 27th high, with the 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.
• 1.5587: Dec 31st daily low.
• 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.
• 1.5682: Dec 11th daily low.
• 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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