GBPUSD Weekly downtrend opportunity based on 1 Lot Calculation:
-
Bank of England governor, Andrew Bailey, warned recently that price shocks could send the British economy into recession. The cost-of-living crisis and higher prices curb expenditure, lower growth, raise unemployment and eventually push inflation lower. That means the scope for the Band of England to further hike rates is limited as there is a combination of a very high inflation and recession worries;
-
Today, very bad (PMI) economic indicators indicated that the British economy is in a very fragile state. Preliminary services PMI indicator for May dropped more than 5 points.
GBPUSD, May 24, 2022
Current Price: 1.2515
|
GBP/USD |
Weekly |
|
Trend Direction |
|
|
1.2815 |
|
|
1.2755 |
|
|
1.2695 |
|
|
1.2335 |
|
|
1.2275 |
|
|
1.2215 |
Example of calculation based on weekly trend direction for 1 Lot1
|
Profit or loss Short in $ |
-3,000 |
-2,400 |
-1,800 |
1,800 |
2,400 |
3,000 |
|
Profit or loss Short in €2 |
-2,799 |
-2,239 |
-1,679 |
1,679 |
2,239 |
2,799 |
|
Profit or loss Short in £2 |
-2,400 |
-1,920 |
-1,440 |
1,440 |
1,920 |
2,400 |
|
Profit or loss Short in C$2 |
-3,841 |
-3,073 |
-2,305 |
2,305 |
3,073 |
3,841 |
1. 1 lot is equivalent of 100,000 units
2. Calculations for exchange rate used as of 10:00 (GMT+1) 24/5/2022
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