CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing all your money. Read full risk warning.
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GBP/USD

Special Reports - 04/08/2021

04 August, 2021

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

GBP/USD Daily uptrend opportunity based on 1.00 Lot Calculation:

  • EVENT: Thursday, August 5, 12:00 GMT+1 – Bank of England’s monetary policy meeting. Market participants will assess the forward guidance on inflation and interests rates after the Bank of England’s Monetary Policy Committee meeting. Expectations for a positive economic assessment may provide support to the British currency.
  • The number of Covid-19 infections is continuing to fall in the UK. Even pessimistic views have been admitting that the UK is nearing herd immunity, even against the Delta variant. Well over 90% of the adult population in the UK has a level of immunity, whether from vaccination, natural infection, or both.
  • The GBP/USD is currently above the 1.39 level, which indicates that the 1.40 level is the next near time target.

GBP/USD, August 4, 2021
Current Price: 1.3919

GBP/USD

Daily

Trend Direction

UP

Resistance 3

1.4029

Resistance 2

1.4009

Resistance 1

1.3989

Support 1

1.3849

Support 2

1.3829

Support 3

1.3809

Example of calculation based on daily trend direction for 1.00 Lot*

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss Short in $

1,100

900

700

-700

-900

-1,100

Profit or loss Short in €**

928

759

591

-591

-759

-928

Profit or loss Short in £**

790

646

503

-503

-646

-790

Profit or loss Short in C$**

1,379

1,128

877

-877

-1,128

-1,379

* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 10:10 am (GMT+1) 4/8/2021
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

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Risk Warning and Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Fortrade Cyprus Ltd is regulated and supervised by the Cyprus Securities and Exchange Commission (CySEC) with CIF license number 385/20. CFD products may not be suitable for all clients, therefore ensure, that you understand the risks involved and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

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