GBP/USD

Market Opportunities - 07/05/2019

07 May, 2019

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 opportunity for 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 downtrend opportunity based On 1.00 Lot Calculation:

A Brexit breakthrough in talks between Prime Minister Theresa May’s government and the opposition Labour Party is possible but unlikely this week, the BBC’s political editor cited an unidentified senior government source as saying. This would mean that Theresa May’s Government will miss its self- imposed deadline this week, which in turn could put the UK pound under negative pressure.

The US dollar, on the other hand, remains better positioned against its peers including the UK pound as the US Federal Reserve recently announced that for the moment they have no intention to lower interest rates, brushing market expectations for an interest rate cut in 2019.

GBP/USD, May 7, 2019
Pivot point: 1.30993

GBP/USD

Weekly

Trend Direction

DOWN

Resistance 3

1.33471

Resistance 2

1.32959

Resistance 1

1.32259

Support 1

1.29720

Support 2

1.28787

Support 3

1.28003

Example of calculation base 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 $

-2,478.00

-1,966.00

-1,266.00

1,273.00

2,209.00

2,990.00

Profit or loss Short in €

-2,213.65

-1,756.27

-1,130.94

1,137.20

1,973.34

2,671.03

Profit or loss Short in £

-1,893.95

-1,502.62

-967.61

972.96

1,688.35

2,285.27

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 10:40 AM (GMT + 1) 7/5/2019
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account Manager regarding their use.
*** Please consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Senior Account Manager for more details

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