CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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GBP/USD price is falling -0.4%

Fast Moving Market - 24/06/2021

24 June, 2021

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

NEWS: GBP/USD price is falling -0.4%. The Pound is tumbling after the Bank of England left rates unchanged at 0.10% and kept QE at 895 billion pounds per year. Their statement made it clear they would not be raising rates until there is “Clear evidence of inflation.”.

Possible Scenarios:

If GBP/USD fails to breach through S2 of 1.38875, our Research Department expects the GBP/USD to undergo a short-term upward correction.

If GBP/USD manages to break below its S2 of 1.38875, our Research Department expects the GBP/USD to extend its losses to its S3 of 1.38516.

Support and Resistance Levels:

GBP/USD

S3

S2

S1

Reference Price

R1

R2

R3

1.38516

1.38875

1.39234

1.39713

1.40192

1.40551

1.40910

Potential Profit or Potential Loss Calculations:

10 pips per 1 trading lot*

USD

EUR**

GBP***

(+/-) $100

(+/-) €83.78

(+/-) £71.86

*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.19363
***GBP/USD = 1.39164
Calculations for exchange rate used as of 12:35 (GMT+1) 24/06/2021

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Risk Warning and Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk. See full risk warning

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Risk warning   Privacy policy
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

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Risk Warning and Disclaimer: CFDs are complex and highly speculative instruments, which come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing all your invested capital. Be Aware: You can lose all, but not more than the balance of your Trading Account. 76% of retail investor accounts lose money when trading CFDs with this provider. These products may not be suitable for all clients, therefore ensure, that you understand the risks and seek independent advice. Should you proceed with investment in CFDs on virtual currencies, please note, that the values are highly volatile and may result in a significant loss for a short period of time. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk. The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

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