GBP/USD Daily downtrend opportunity based On 1.00 Lot Calculation:
- EVENT: Friday, February 12 at 7:00 GMT. Gross Domestic Product (GDP) data for quarter four (Q4) in the UK will be published. The UK GDP(QoQ) could be expected to fall from 16% in the last quarter to 0.5%. The lockdown in the fourth quarter of 2020 had obviously some negative impact for the economy in the UK.
- The UK GDP could be expected to fall by around 4% in the first quarter of 2021, in contrast to expectations of a rise in the November report.
- The US dollar may continue to rise as labor market data was not so bad. The unemployment rate fell to 6.3%. This is the lowest level since April last year.
GBP/USD February 8, 2021
Current Price: 1.3695
|
GBP/USD |
Daily |
|
Trend Direction |
DOWN |
|
1.3920 |
|
|
1.3850 |
|
|
1.3770 |
|
|
1.3610 |
|
|
1.3520 |
|
|
1.3450 |
Example of calculation base on daily trend direction for 1.00 Lot*
|
Profit or loss Short in $ |
-2,250 |
-1,550 |
-750 |
850 |
1,750 |
2,450 |
|
Profit or loss Short in €** |
-1,870 |
-1,288 |
-623 |
707 |
1,455 |
2,037 |
|
Profit or loss Short in £** |
-1,367 |
-1,133 |
-548 |
621 |
1,279 |
1,791 |
|
Profit or loss Short in C$** |
-2,875 |
-1,980 |
-958 |
1,086 |
2,236 |
3,130 |
* 1.00 lot is equivalent of 100 000 units
** Calculations for exchange rate used as of 11:50 am (GMT) 8/2/2021
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