GBPUSD Weekly downtrend opportunity based on 1 Lot Calculation:
- EVENT: Friday, October 7 at 13:30 GMT+1 – The United States will report Nonfarm Payrolls. Nonfarm Payrolls are anticipated to come down from the previous month. However, if the data comes in higher than expected, this will signal a hot labor market, which could encourage the Federal Reserve to raise Interest Rates more aggressively which could potentially increase the value in the USD.
- EVENT: Thursday, October 13 at 13:30 GMT+1 – The United States will report Year-on-Year CPI. Year-on-Year CPI in the United States is forecasted to come down in comparison to the previous month. If inflation is printed higher than expected, this could potentially lead the Federal Reserve to continue tightening monetary policy, which could increase the strength of the US dollar and lead to a decline in the GBPUSD pair.
- EVENT: Wednesday, October 12 at 07:00 GMT+1 – The UK will report Manufacturing Production Month-on-Month for August. If Manufacturing production comes in lower than the market forecast, this indicates a slowing in manufacturing. This could indicate that the economy is slowing and may be closer to recession, which could limit the Bank of England’s ability to raise interest rates, and therefore, may lead to a weaker GBPUSD due to the interest rate differentials.
October 6, 2022
Current Price: 1.1250
GBP/USD |
Weekly |
Trend Direction |
|
1.1690 |
|
1.1600 |
|
1.1450 |
|
1.0950 |
|
1.0795 |
|
1.0500 |
Example of calculation based on weekly trend direction for 1 Lot1
Profit or loss Short in $ |
-4,400.00 |
-3,500.00 |
-2,000.00 |
3,000.00 |
4,550.00 |
7,500.00 |
Profit or loss Short in €2 |
-4,427.67 |
-3,522.01 |
-2,012.58 |
3,018.87 |
4,578.62 |
7,547.17 |
Profit or loss Short in £2 |
-3,774.39 |
-3,002.36 |
-1,715.63 |
2,573.45 |
3,903.07 |
6,433.63 |
Profit or loss Short in C$2 |
-5,751.50 |
-4,575.06 |
-2,614.32 |
3,921.48 |
5,947.58 |
9,803.70 |
1. 1 lot is equivalent of 100,000 units
2. Calculations for exchange rate used as of 11:45 (GMT+1) 06/10/2022
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