EUR/GBP weekly special report based On 1.00 Lot Calculation:
·EVENT Thursday (July 27 at 13:15 GMT+1): European central bank, interest rate decision. According to Bloomberg, the European central bank will increase the interest rate from 4,00% to 4,25%. Market participants forecast that there will be more interest rate hikes in the Eurozone as high inflation is still present in Europe.
·EVENT Thursday (August 3 at 13:15 GMT+1): Bank of England, interest rate decision. At the last meeting, the Bank of England surprisingly increased its interest rate to 5%. According to Investing.com, on an upcoming meeting benchmark interest rate will be unchanged.
·TECHNICAL ANALYSIS: The 8- Day Relative Strength Index (RSI) shows the pair trades in oversell territory, which could imply that the price of this currency pair may start an upward correction.
EURGBP, July 27, 2023
Current Price:0.8570
|
EUR/GBP |
Weekly |
|
Trend direction |
|
|
0.8800 |
|
|
0.8700 |
|
|
0.8650 |
|
|
0.8500 |
|
|
0.8450 |
|
|
0.8350 |
Example of calculation base on weekly trend direction for 1.00 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
2,984 |
1,687 |
1,038 |
-908 |
-1,557 |
-2,855 |
|
Profit or loss in €² |
2,682 |
1,516 |
933 |
-816 |
-1,399 |
-2,565 |
|
Profit or loss in £² |
2,300 |
1,300 |
800 |
-700 |
-1,200 |
-2,200 |
|
Profit or loss in C$² |
4,006 |
2,264 |
1,393 |
-1,219 |
-2,090 |
-3,832 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 08:52 (GMT+1) 27/7/2023
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account ManagerClient 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 Senior Account ManagerClient Manager for more details