GBPUSD – Looking for Pullback To Role Reversal Level | Jul 2

NOTE: There is both an ECB Rate Decision Tomorrow, along with NFP due to the US July 4th Holiday, so be careful taking positions due to event risk.

GBPUSD – Showing Continual Strength Post Breakout
After breaking above the former yearly high at 1.7063, the pair has been maintaining strength, while losing some momentum post breakout. My guess is the pair will pullback towards the prior resistance, now turned support, and thus become a role reversal level.

Our Trade Idea: Trading with the trend, we will look for a breakout pullback setup at the role reversal level between the 1.7060 – 1.7000 area. Upside targets will be 1.7155 and 1.7250, with the potential for a much larger move up towards 1.7450.


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I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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  • Haroun

    There’s a nice pin at 1.7099. May that be enough of a pull back?