GBP/USD

Special Reports - 27/01/2022

27 January, 2022

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

GBP/USD Weekly downtrend opportunity based on 1.00 Lot Calculation:

Yesterday, the US Federal Reserve Chairman Jerome Powell's hawkish remarks triggered a dollar rally and weighed heavily on all major currencies against the (strengthening) dollar.
Post-Brexit and UK political concerns add to the pound's downside as pressures mount on PM Boris Johnson to resign over COVID lockdown parties.

GBP/USD, January 27, 2022
Current Price: 1.3414

GBP/USD	Weekly
Trend Direction	DOWN
Resistance 3	1.3524
Resistance 2	1.3504
Resistance 1	1.3484
Support 1	1.3344
Support 2	1.3324
Support 3	1.3304

Example of calculation based on weekly trend direction for 1.00 Lot*

Pivot Points	Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
Profit or loss Short in $	-1,100	-900	-700	700	900	1,100
Profit or loss Short in €**	-981	-803	-624	624	803	981
Profit or loss Short in £**	-820	-671	-522	522	671	820
Profit or loss Short in C$**	-1,399	-1,145	-891	891	1,145	1,399

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 08:00 am (GMT) 27/1/2022
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

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