GBP/USD weekly special report based On 1.00 Lot Calculation:.
● EVENT: NFP and Unemployment rate in the US, September 1, at 13:30 (GMT+1). Important labor market data could influence the US Federal Reserve (Fed) decision on whether to raise the policy rate again this year. The tight labor market’s persistent role in pushing up consumer prices. July data showed NFP rose 187,000 which was below expected 200,000 while the unemployment rate edged lower to 3.5% from 3.6%.
● TECHNICAL ANALYSIS: RSI indicatior on the daily graph chart shows that this pair is in an oversold area which could indicate current trend might change. Additionally, currency pair GBPUSD didn't manage to fall below the level 1.2546 which is around its 200 - day moving average. If price stays above this moving average, that could be an additional technical signal that change of trend could start.
GBPUSD, August 29, 2023
Current Price: 1.2611
|
GBP/USD |
Weekly |
|
Trend direction |
|
|
1.3010 |
|
|
1.2970 |
|
|
1.2870 |
|
|
1.2400 |
|
|
1.2300 |
|
|
1.2250 |
Example of calculation base on weekly trend direction for 1.00 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
3,990 |
3,590 |
2,590 |
-2,110 |
-3,110 |
-3,610 |
|
Profit or loss in €² |
3,691 |
3,321 |
2,396 |
-1,952 |
-2,877 |
-3,340 |
|
Profit or loss in £² |
3,164 |
2,847 |
2,054 |
-1,673 |
-2,466 |
-2,863 |
|
Profit or loss in C$² |
5,427 |
4,883 |
3,523 |
-2,870 |
-4,230 |
-4,910 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 12:20 (GMT+1) 29/8/2023
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Senior Account ManagerClient Manager regarding their use.
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You may wish to consider closing your position in profit, even if it is lower than suggested one
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Trailing stop technique can protect the profit – Ask your Senior Account ManagerClient Manager for more details