GBP/USD Weekly downtrend opportunity based on 1.00 Lot Calculation:
- EVENT: Wednesday, December 1, 09:30 AM GMT – The U.K. Manufacturing Purchasing Managers Index release. The economic activity (expectations) for the British economy is expected to deteriorate. Namely, the index is expected to drop from 58.2 points to 57.7.
- The Bank of England Governor Andrew Bailey rejected yesterday inflation fears and tamed the hopes of the rate hike in 2022.
- The pound’s (latest) weakness is also linked to the broad market fears over the South African coronavirus variant and the post-Brexit woes, while the number of Covid-19 cases in the UK surpassed 47,000.
GBP/USD, November 26, 2021
Current Price: 1.3318
|
GBP/USD |
Weekly |
|
Trend Direction |
|
|
1.3458 |
|
|
1.3438 |
|
|
1.3418 |
|
|
1.3218 |
|
|
1.3198 |
|
|
1.3178 |
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 €** |
-1,246 |
-1,068 |
-890 |
890 |
1,068 |
1,246 |
|
Profit or loss Short in £** |
-1,054 |
-903 |
-753 |
753 |
903 |
1,054 |
|
Profit or loss Short in C$** |
-1,785 |
-1,530 |
-1,275 |
1,275 |
1,530 |
1,785 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 07:45 am (GMT) 26/11/2021
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