GBP/USD Weekly uptrend opportunity based On 1.00 Lot Calculation:
- EVENT: Tuesday, April 27 at 03:00 pm GMT+1 – CB Consumer sentiment for April. The index is expected to rise to 112.3 points (after 109.7 it posted in March) and further boost the risk on sentiment across financial markets;
- This morning, a very solid data from the UK’s jobs market provided support to the British pound. Falling US bond yields are weakening the dollar against all major currencies, while successful rollout of vaccines in the UK and Europe is also adding to the positive sentiment on two major European currencies;
- The currency pair is already in a strong (long-term) uptrend that may continue.
GBP/USD, April 20, 2021
Current Price: 1.3989
|
GBP/USD |
Weekly |
|
Trend Direction |
|
|
1.4139 |
|
|
1.4119 |
|
|
1.4099 |
|
|
1.3879 |
|
|
1.3859 |
|
|
1.3839 |
Example of calculation based on weekly trend direction for 1.00 Lot*
|
Profit or loss Short in $ |
1,500 |
1,300 |
1,100 |
-1,100 |
-1,300 |
-1,500 |
|
Profit or loss Short in €** |
1,243 |
1,077 |
912 |
-912 |
-1,077 |
-1,243 |
|
Profit or loss Short in £** |
1,072 |
929 |
786 |
-786 |
-929 |
-1,072 |
|
Profit or loss Short in C$** |
1,875 |
1,625 |
1,375 |
-1,375 |
-1,625 |
-1,875 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 08:00 am (GMT+1) 20/4/2021
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