Wednesday, March 18, 2015

RESISTANCE TRENDLINE IN GBPUSD (CABLE) 18/03/15


• 1.4732: micro term Fibonacci 38.2% retracement level for the drop from Monday’s high 1.4853 to today’s 5-year low 1.4658.
• 1.4756: micro term Fibonacci 50% retracement level for the drop from Monday’s high 1.4853 to today’s 5-year low 1.4658.
• 1.4779: an important resistance level that combines the falling trend line from March 11th top, with the micro term Fibonacci 61.8% retracement level for the drop from Monday’s high 1.4853 to today’s 5-year low 1.4658.
• 1.4797: micro term 85.7% retracement level for the drop from Monday’s high 1.4853 to today’s 5-year low 1.4658.
• 1.4853: Monday’s high.
• 1.4893: March 13th daily high, which is also very close to the falling trend line from Feb 26th high.
• 1.4953: medium term Dow 33.3% calculated for the falling move from Feb 26th daily high & Fibonacci top 1.5552 to today’s 5-year low 1.4658.
• 1.5000: medium term Fibonacci 38.2% calculated for the falling move from Feb 26th daily high & Fibonacci top 1.5552 to today’s 5-year low 1.4658.

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