EUR/GBP WEEKLY downtrend opportunity based On 1.00 Lot Calculation:
- Successful vaccination rollout and falls in the number of new cases in the UK are supporting the British pound, while the European experience in that area is full of contentious issues;
- On Wednesday, February 3 at 09:30 am GMT, UK Services (and Composite) PMIs will be released and the data is expected to show further recovery of economic activity;
- The currency pair is in a strong (long term) downtrend that may continue.
EUR/GBP, January 28, 2021
Current price: 0.8861
|
EUR/GBP |
Weekly |
|
Trend Direction |
|
|
0.8971 |
|
|
0.8951 |
|
|
0.8931 |
|
|
0.8791 |
|
|
0.8771 |
|
|
0.8751 |
Example of calculation based on weekly trend direction for 1.00 Lot*
|
Profit or loss Short in $ |
-1,504 |
-1,231 |
-957 |
957 |
1,231 |
1,504 |
|
Profit or loss Short in €** |
-1,238 |
-1,013 |
-788 |
788 |
1,013 |
1,238 |
|
Profit or loss Short in £** |
-1,100 |
-900 |
-700 |
700 |
900 |
1,100 |
|
Profit or loss Short in C$** |
-1,912 |
-1,565 |
-1,217 |
1,217 |
1,565 |
1,912 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 11:30 AM (GMT) 28/1/2021
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