GBP/USD weekly special report based On 1.00 Lot Calculation:
·EVENT: (NFP and Unemployment, December 8th, 2023, GMT 13:30): The upcoming economic update from the United States is poised to unveil Non-Farm Payroll (NFP) and Unemployment statistics. In the prior release, NFP data reflected a count of 150,000 jobs added (vs. 180,000 expected), while the Unemployment rate stood at 3.9% (vs. 3.8% expected). These lower-than-expected figures brought the GBP/USD pair from 1.21855 to 1.23758 (Source: MT4).
Please note that past performance does not guarantee future results.
·EVENT (Federal Reserve Interest Decision, December 13th, 2023, GMT 13:30): The Federal Reserve Bank will meet on December 13th to set the Federal Funds Rate target. According to the CME Group, analysts are forecasting that the Federal Reserve will hold interest rates at their current level of 5.50%
·EVENT (Bank of England Interest Rate Decision, December 14th, 2023, GMT 12:00): The Bank of England will meet on December 14th to set their target for the UK Interest Rate. BoE Governor Andrew Bailey confirmed that it is too early to discuss rate cuts as BoE tries to get inflation down to its target level of 2% despite positive macroeconomic UK data for the month of October. Further rate hikes could strengthen the GBP against the USD.
·INFLATION ON A DOWNWARD TREND, COULD WEAKEN THE US DOLLAR: With declining inflation compared to last year, the US Dollar has moved below its 2022 highs.
GBPUSD, November 21, 2023
Current Price:1.254
GBP/USD |
Weekly |
Trend direction |
|
1.310 |
|
1.290 |
|
1.270 |
|
1.238 |
|
1.230 |
|
1.225 |
Pivot Points |
||||||
Profit or loss in $ |
5,610.00 |
3,610.00 |
1,610.00 |
-1,590.00 |
-2,390.00 |
-2,890.00 |
Profit or loss in €² |
5,126.31 |
3,298.75 |
1,471.19 |
-1,452.91 |
-2,183.93 |
-2,640.82 |
Profit or loss in £² |
4,477.34 |
2,881.14 |
1,284.94 |
-1,268.98 |
-1,907.46 |
-2,306.51 |
Profit or loss in C$² |
7,692.15 |
4,949.85 |
2,207.55 |
-2,180.13 |
-3,277.05 |
-3,962.62 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 11:20 (GMT) 21/11/2023
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