Tuesday, February 24, 2015

RESISTANCE TRENDLINE IN GBPUSD (CABLE) 24/02/15


• 1.5480: Wednesday’s 7-week high, which is very close to the bottom of the broken wedge.
• 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.
• 1.5807: long term Fibonacci 61.8% retracement level, calculated for the falling move from July 6-year high 1.7191 to Jan 23rd’s 19-month low 1.4951.

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