CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

GBPUSD

Market Opportunities - 01/09/2022

01 September, 2022

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible opportunity for profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

GBPUSD Weekly downtrend opportunity based on 1 Lot Calculation:

  • EVENT: Friday, September 2 at 13:30 GMT+1 – The United States will report Nonfarm Payrolls for August. The Market is anticipating that Nonfarm payrolls will be lower than the previous month, with 300k jobs forecasted for August. If the number comes in higher, this will maintain a hawkish signal to the Federal Reserve, which may have to be more aggressive at the next interest rate meeting.
  • EVENT: Friday, September 2 at 13:30 GMT+1 – The United States will report the Unemployment Rate for August. The Market is anticipating that the Unemployment Rate for the United States will remain 3.5%. If the Unemployment Rate comes in lower, this will indicate a strong labor market, which will signal to the Federal Reserve that it can continue to raise interest rates, which could result in a stronger USD.
  • EVENT: Monday, September 5 at 09:00 GMT+1 – The UK will report Composite PMI for August: The UK is anticipated to report a Composite PMI of 52.8. If the value comes in lower, this will signal the UK economy is contracting, which could result in a weaker GBP.
  • 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. This could further devalue this currency pair.

*PLEASE NOTE, ALL MARKET FORECASTS INCLUDED IN THIS MARKET OPPORTUNITY IS SOURCED FROM INVESTING.COM

GBPUSD, September 1, 2022
Current Price: 1.1600

GBP/USD

Weekly

Trend Direction

DOWN

Resistance 3

1.1900

Resistance 2

1.1820

Resistance 1

1.1760

Support 1

1.1400

Support 2

1.1300

Support 3

1.2600

Example of calculation based on weekly trend direction for 1 Lot1

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss Short in $

-3,000.00

-2,200.00

-1,600.00

2,000.00

3,000.00

3,400.00

Profit or loss Short in €2

-3,018.87

-2,213.84

-1,610.06

2,012.58

3,018.87

3,421.38

Profit or loss Short in £2

-2,573.45

-1,887.20

-1,372.51

1,715.63

2,573.45

2,916.58

Profit or loss Short in C$2

-3,921.48

-2,875.75

-2,091.46

2,614.32

3,921.48

4,444.34

1. 1 lot is equivalent of 100,000 units

2. Calculations for exchange rate used as of 10:45 (GMT+1) 01/09/2022

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

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