Today’s Forex Signal July 7th

GBPUSD – Looking set for another attack to the upside

After forming a Kumo break on the daily charts, the pair tested the flat top 2x and has launched since then.  Even though it has struggled at the 1.5200 level, the pair has found triple bottom support just below 1.5100 which is the 38.2% retracement of the 1.4860 – 1.5200 move, but also houses the 38.2% retracement of the 1.6500 – 1.4239 move at 1.5090 so its acting as a double support for the pair and has propped up the pair for the last 3 days with ease.

Considering the pair has gained 4 out of the last 5 days and easily held above the flat top Kumo – we expect further gains up to 1.5351 which is the 50% retracement of this massive down swing from 1.6500 – 1.4239.

If you would like to find simple high-probability trades using pivots and price action only, you can check out the Advanced Price Action or the ProForex Course which will teach you rule-based proprietary systems to trade these profitable setups.

If you have any questions about our courses, feel free to email me via the Contact Page and make sure to comment below!

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Verified Profitable Trader

Hi, I'm Chris Capre, Founder of 2ndSkiesForex. I've turned $3,000 into $83,000 in my first 6 months of trading. I'm a verified profitable trader and trading mentor. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18yrs of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.

Related Article