GBPUSD

Special Reports - 30/09/2022

30 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 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: Monday, October 3 at 09:30 GMT+1 – The U.K will report Manufacturing PMI September. The Market could anticipate that Manufacturing PMI might decline due to poor economic conditions in the UK. If the PMI comes in lower than forecast, the pound could be anticipated to weaken on poor economic sentiment.
EVENT: Thursday, October 6 at 13:30 GMT+1 – The United States will report Initial Jobless Claims. Initial Jobless claims are useful when gauging the strength on the labor market. The most recent print of 193k was lower than forecast, and caused a strengthening in the US dollar. Should jobless claims print lower again, this may prompt the Federal Reserve to adopt a more aggressive interest rate policy stance, which could result in US dollar strength and a declining GBPUSD.
EVENT: Thursday, October 7 at 13:30 GMT+1 – The United States will report Nonfarm Payrolls for September. Nonfarm payrolls are a key indicator of the US labor market, which measures the change in people employed against the previous month. The market is currently forecasting a 290k increase. If the number prints higher than forecast, it indicates a strong labor market and could be a catalyst for US dollar strengthening, as this signals hot economy and the potential need for sharper rate hikes.

September 30, 2022
Current Price:1.1220

GBP/USD	Weekly
Trend Direction	DOWN
Resistance 3	1.1690
Resistance 2	1.1600
Resistance 1	1.1400
Support 1	1.0950
Support 2	1.0795
Support 3	1.0500

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 $	-4,700.00	-3,800.00	-1,800.00	2,700.00	4,250.00	7,200.00
Profit or loss Short in €²	-4,729.56	-3,823.90	-1,811.32	2,716.98	4,276.73	7,245.28
Profit or loss Short in £²	-4,031.74	-3,259.70	-1,544.07	2,316.11	3,645.72	6,176.28
Profit or loss Short in C$²	-6,143.65	-4,967.21	-2,352.89	3,529.33	5,555.43	9,411.55

1. 1 lot is equivalent of 100,000 units

2. Calculations for exchange rate used as of 09:50 (GMT+1) 30/09/2022

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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