GBP/USD Weekly downtrend opportunity based on 1.00 Lot Calculation:
- EVENT: Friday, May 21, 07:00 AM GMT+1 – UK Retail Sales for April. The retail sales in the UK are expected to grow at a much lower rate than in March (+1.5% vs. in the previous month’s 5.4%).
- Yesterday, Prime Minister Boris Johnson expressed concerns about the rapid spread of the Indian variant in the UK. A number of health officials have called on the government to reconsider its reopening roadmap and take a more cautious approach;
- In the last two attempts, the GBUSD could not break above the 1.41 level for a meaningful period of time.
GBP/USD, May 14, 2021
Current Price: 1.4065
GBP/USD |
Weekly |
Trend Direction |
|
1.4205 |
|
1.4185 |
|
1.4165 |
|
1.3965 |
|
1.3945 |
|
1.3925 |
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 €** |
-1,155 |
-990 |
-825 |
825 |
990 |
1,155 |
Profit or loss Short in £** |
-996 |
-853 |
-711 |
711 |
853 |
996 |
Profit or loss Short in C$** |
-1,700 |
-1,457 |
-1,214 |
1,214 |
1,457 |
1,700 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 09:10 am (GMT+1) 14/5/2021
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