GBP/USD

Special Reports - 20/01/2022

20 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 uptrend opportunity based on 1.00 Lot Calculation:

EVENT: Wednesday, January 26, 19:30 GMT – The US Federal Reserve press conference after the regular monetary policy meeting. The benchmark 10-year US Treasury bond yield is in retreat today, forcing the dollar to stay under bearish pressure. The Fed may stay a little more dovish than expected regarding its monetary outlook as the stock market sell-off may push the Fed officials to adopt a more cautious stance.
The Bank of England is widely expected to raise its interest rate on the next meeting scheduled for February 3, due to accelerating inflation in the UK. Today, the official figures showed that inflation in 2021 was 5.4% vs. 5.2% forecast.
The pound’s (latest) strengthening is also linked to the fact that the number of Covid-19 infections is in decline and rumors are that the country may abolish all pandemic measures soon.

GBP/USD, January 20, 2022
Current Price: 1.3617

GBP/USD	Weekly
Trend Direction	UP
Resistance 3	1.3757
Resistance 2	1.3737
Resistance 1	1.3717
Support 1	1.3517
Support 2	1.3497
Support 3	1.3477

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 $	1,400	1,200	1,000	-1,000	-1,200	-1,400
Profit or loss Short in €**	1,234	1,058	881	-881	-1,058	-1,234
Profit or loss Short in £**	1,028	881	734	-734	-881	-1,028
Profit or loss Short in C$**	1,747	1,498	1,248	-1,248	-1,498	-1,747

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 13:30 (GMT) 20/1/2022
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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