GBPUSD Weekly downtrend opportunity based on 1 Lot Calculation:
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EVENT: Wednesday, June 15, at 20:00 GMT+1 - The US Fed Interest Rate Decision. The U.S. dollar is strengthening on raised expectations for aggressive monetary policy by the end of this year. Many board members vowed to support quicker and bigger rate hike in future, which is supportive for the US dollar;
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EVENT: Thursday, June 16, at 13:00 GMT+1 - The BoE Interest Rate Decision. The Bank of England is expected to raise the rate by a quarter points, the probability of an increase of 0.5% is regarded as extremely low. In general, it should be assumed that the BoE will lag behind the Fed;
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British pound is diving down amid a disappointing report on the growth of the British economy. Almost all components of the data came out in the "red zone," significantly falling short of the forecast levels.
GBPUSD, June 14, 2022
Current Price: 1.2170
|
GBP/USD |
Weekly |
|
Trend Direction |
|
|
1.2410 |
|
|
1.2350 |
|
|
1.2290 |
|
|
1.2050 |
|
|
1.1980 |
|
|
1.1920 |
Example of calculation based on weekly trend direction for 1 Lot1
|
Profit or loss Short in $ |
-2,400.00 |
-1,800.00 |
-1,200.00 |
1,200.00 |
1,900.00 |
2,500.00 |
|
Profit or loss Short in €2 |
-2,297.53 |
-1,723.15 |
-1,148.77 |
1,148.77 |
1,818.88 |
2,393.26 |
|
Profit or loss Short in £2 |
-1,972.06 |
-1,479.05 |
-986.03 |
986.03 |
1,561.22 |
2,054.23 |
|
Profit or loss Short in C$2 |
-3,093.60 |
-2,320.20 |
-1,546.80 |
1,546.80 |
2,449.10 |
3,222.50 |
1. 1 lot is equivalent of 100,000 units
2. Calculations for exchange rate used as of 9:50 (GMT+1) 14/6/2022
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