EUR/GBP WEEKLY downtrend opportunity based On 1.00 Lot Calculation:
- EVENT: Thursday, March 4 at 9:30 am GMT - The February Construction PMI from the UK is expected. The construction sector is very important for the British economy. Positive surprise is expected for the index – to reach 52.9 points, which would be a considerable improvement;
- The British pound is strengthening as coronavirus cases and deaths continue falling in the UK, while the vaccination campaign continues at full speed;
- The currency pair is in a strong downtrend that may continue.
EUR/GBP, February 25, 2021
Current price: 0.8629
|
EUR/GBP |
Weekly |
|
Trend Direction |
|
|
0.8719 |
|
|
0.8709 |
|
|
0.8699 |
|
|
0.8559 |
|
|
0.8549 |
|
|
0.8539 |
Example of calculation based on weekly trend direction for 1.00 Lot*
|
Profit or loss Short in $ |
-1,275 |
-1,134 |
-992 |
992 |
1,134 |
1,275 |
|
Profit or loss Short in €** |
-1,044 |
-928 |
-812 |
812 |
928 |
1,044 |
|
Profit or loss Short in £** |
-900 |
-800 |
-700 |
700 |
800 |
900 |
|
Profit or loss Short in C$** |
-1,592 |
-1,415 |
-1,238 |
1,238 |
1,415 |
1,592 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 09:30 AM (GMT) 25/2/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more details