GBPUSD Weekly downtrend opportunity based on 1 Lot Calculation:
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EVENT: Thursday, June 23, 09:30 (GMT+1) - Preliminary Services and Manufacturing PMI indexes for June. Bad (Purchasing Managers’ Index) economic indicators indicated in May that the British economy is in a very fragile state as Services and Manufacturing indexes dropped more than 5, and 1.2 points, respectively;
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Rising cost of living in the UK, unresolved issues with the EU over the Northern Ireland Protocol and difficult times in the (unstable) premiership of Boris Johnson add to the problems list for the British pound.
GBPUSD, June 21, 2022
Current Price: 1.2319
|
GBP/USD |
Weekly |
|
Trend Direction |
|
|
1.2619 |
|
|
1.2519 |
|
|
1.2499 |
|
|
1.2139 |
|
|
1.2069 |
|
|
1.2019 |
Example of calculation based on weekly trend direction for 1 Lot1
|
Profit or loss Short in $ |
-3,000 |
-2,500 |
-1,800 |
1,800 |
2,500 |
3,000 |
|
Profit or loss Short in €2 |
-2,840 |
-2,366 |
-1,704 |
1,704 |
2,366 |
2,840 |
|
Profit or loss Short in £2 |
-2,440 |
-2,033 |
-1,464 |
1,464 |
2,033 |
2,440 |
|
Profit or loss Short in C$2 |
-3,873 |
-3,228 |
-2,324 |
2,324 |
3,228 |
3,873 |
1. 1 lot is equivalent of 100,000 units
2. Calculations for exchange rate used as of 09:45 (GMT+1) 21/6/2022
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