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Coleman: Reeling in Cable

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Ian Coleman is looking for opportunities in Cable. His call is to sell at 1.5560 with a stop at 1.5590. Targets: 1.5530 and 1.5495.  

Ian spells out his reasons as: 
1. Trading at 8 week highs and overbought.
2. Trend of higher highs seen at 1.5560, possible Ending Wedge
3. Intraday 161.8% Fibonacci extension at 1.5560 from 1.5331-1.5474
4. USD INDEX also at a 161.8% extension of 94.15 so should pullback (Index higher , GBPUSD lower)
5. DeMark highlighting a 10 count of the 1 hour, 13 is exhaustion
6. UK GDP figures at 9.30 (UK), likely the catalyst.