GBPUSD Weekly uptrend opportunity based on 1 Lot Calculation:
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EVENT: Friday, May 6, 13:30 GMT+1 – US Non-farm payroll for April. The US economy is expected to have added (only) 394,000 jobs last month. Today, ADP data showed a surprising deceleration in the number of newly created jobs in the US. ADP is a private organization that published its monthly estimate of the US jobs market two days before the official data;
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The GBP/USD dropped last week to its lowest level since July 2020 and it technically oversold, which points to a recovery of the currency pair.
GBPUSD, May 4, 2022
Current Price: 1.2472
|
GBP/USD |
Weekly |
|
Trend Direction |
|
|
1.2682 |
|
|
1.2652 |
|
|
1.2622 |
|
|
1.2322 |
|
|
1.2292 |
|
|
1.2262 |
Example of calculation based on weekly trend direction for 1 Lot1
|
Profit or loss Short in $ |
2,100 |
1,800 |
1,500 |
-1,500 |
-1,800 |
1,600 |
|
Profit or loss Short in €2 |
1,995 |
1,710 |
1,425 |
-1,425 |
-1,710 |
1,448 |
|
Profit or loss Short in £2 |
1,679 |
1,439 |
1,199 |
-1,199 |
-1,439 |
1,217 |
|
Profit or loss Short in C$2 |
2,691 |
2,307 |
1,922 |
-1,922 |
-2,307 |
2,018 |
1. 1 lot is equivalent of 100,000 units
2. Calculations for exchange rate used as of 13:20 (GMT+1) 4/5/2022
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
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You may wish to consider closing your position in profit, even if it is lower than suggested one
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Trailing stop technique can protect the profit – Ask your Client Manager for more details