GBPUSD Weekly downtrend opportunity based on 1 Lot Calculation:
- EVENT: Tuesday, August 23 at 09:00 GMT+1 – The U.K will report Manufacturing PMI. The Market is anticipating that Manufacturing PMI is anticipated to decline due to poor economic conditions in the UK. If the PMI comes in lower than forecast, the pound is anticipated to weaken on poor economic sentiment.
- EVENT: Friday, August 26 at 15:00 GMT+1 – Federal Reserve Chair Jerome Powell will speak at the Jackson Hole Symposium. The Federal Reserve chair is anticipated to make statements about the state of the economy and the current inflationary situation within the US economy. Any statement reaffirming that inflation is still too high, would be an indication that the Federal Reserve will need to continue interest rate hikes, leading to a stronger US dollar.
- EVENT: Friday, August 26 at 13:30 GMT+1 – The United States will report the Core PCE Price Index. The Core PCE Price Index is a key piece of data that the Federal Reserve follows to gauge where inflation is. If the reading comes in higher than the market forecast of 0.3%, this will indicate the need for further interest rate hikes, which could strengthen the US Dollar.
- POLITICAL INSTABILITY IN THE U.K TO IMPACT THE UK POUND NEGATIVELY: The U.K is still looking for a new prime minister to replace ousted former prime minister Boris Johnson. The longer the process is drawn out, the greater the loss of confidence in the pound sterling, as investors are likely to move to a safer currency in times of uncertainty, like the US dollar. This could further devalue this currency pair.
GBPUSD, August 19, 2022
Current Price: 1.1853
GBP/USD |
Weekly |
Trend Direction |
|
1.2100 |
|
1.2070 |
|
1.2000 |
|
1.1600 |
|
1.1510 |
|
1.1490 |
Example of calculation based on weekly trend direction for 1 Lot1
Profit or loss Short in $ |
-2,470.00 |
-2,170.00 |
-1,470.00 |
2,530.00 |
3,430.00 |
3,630.00 |
Profit or loss Short in €2 |
-2,432.06 |
-2,136.67 |
-1,447.42 |
2,491.14 |
3,377.31 |
3,574.24 |
Profit or loss Short in £2 |
-2,062.56 |
-1,812.05 |
-1,227.52 |
2,112.66 |
2,864.20 |
3,031.21 |
Profit or loss Short in C$2 |
-3,229.08 |
-2,836.88 |
-1,921.76 |
3,307.52 |
4,484.11 |
4,745.57 |
1. 1 lot is equivalent of 100,000 units
2. Calculations for exchange rate used as of 11:45 (GMT+1) 19/08/2022
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