GBPUSD

[Samirofi]

Update: 03/08/2015

The GBP/USD is in an ascending wedge with nearby resistance (red) and support (green) trend lines.



The GBP/USD retraced back to the 78.6% Fibonacci retracement. A break below the 100% Fibonacci level invalidates the wave count.USD/JPY

[fising]

any update for GU ew count...

[Yousuf Ali]

GBPUSD has seen aggressive buying flows in early London, sending the exchange rate from 1.4550 low in Asia, to now break the 1.46 area and set new highs at 1.4620 ahead of the UK GDP Q1 preliminary report, due at 8.30 GMT.

Preliminary data from the CME Group shows that futures traders continue to add new long sided business in sterling futures this week. The increase in open interest on Tuesday April 26th was of nearly 5k new contracts, a day in which a commanding bullish bar was printed breaking through the important 1.45 level, suggesting the breakout has some commitment from buyers for a potential continuation.