GBP/USD WEEKLY uptrend opportunity based On 1.00 Lot Calculation:
- Janet Yellen, who will testify today before the US Congress, will probably stress that now is the time to spend and stimulate the economy suffering from the COVID-19 pandemic, in line with Biden's $1.9 trillion proposed relief packed. Her (traditional) dovish stance is being factored by market participants;
- The UK speeded up the rollout of vaccines, which may continue to provide support to the pound.
GBP/USD, January 19, 2021
Current price: 1.3615
|
GBP/USD |
Weekly |
|
Trend Direction |
|
|
1.3755 |
|
|
1.3735 |
|
|
1.3715 |
|
|
1.3515 |
|
|
1.3495 |
|
|
1.3475 |
Example of calculation based on weekly trend direction for 1.00 Lot*
|
Profit or loss Short in $ |
1,400 |
1,200 |
1,000 |
-1,000 |
-1,200 |
-1,400 |
|
Profit or loss Short in €** |
1,156 |
991 |
825 |
-825 |
-991 |
-1,156 |
|
Profit or loss Short in £** |
1,029 |
882 |
735 |
-735 |
-882 |
-1,029 |
|
Profit or loss Short in C$** |
1,782 |
1,528 |
1,273 |
-1,273 |
-1,528 |
-1,782 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 09:50 (GMT) 19/1/2021
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