GBP/USD

Special Reports - 26/09/2023

26 September, 2023 Intelligence Department

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 weekly special report based On 1.00 Lot Calculation:

·INFLATION IN UNITED KINGDOM START TO COOL DOWN. Consumer price index was released on Sep 20, 2023 in the UK, and it was below market expectations (6.7% vs 7.0% according to Investing.com), it is observable that year on year inflation starts to decrease.

·BANK OF ENGLAND REDUCED ITS BENCHMARK INTEREST RATE. Slowdown in the inflation was enough evidence for BoE officials to stop raising its benchmark interest rate. On its last meeting on Sep 21, 2023, BoE maintained its interest rate to level of 5,25%

·TECHNICAL ANALYSIS: MACD oscillator on the Weekly graph chart shows that this pair is in an overbought area which could indicate current trend might change.

GBPUSD, September 26, 2023
Current Price:1.2173

GBP/USD	Weekly
Trend direction	DOWN
Resistance 3	1.2500
Resistance 2	1.2400
Resistance 1	1.2300
Support 1	1.2000
Support 2	1.1900
Support 3	1.1800

Example of calculation base on weekly trend direction for 1.00 Lot¹

Pivot Points	Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
Profit or loss in $	-3,270	-2,270	-1,270	1,730	2,730	3,730
Profit or loss in €²	-3,025	-2,100	-1,175	1,600	2,525	3,451
Profit or loss in £²	-2,593	-1,800	-1,007	1,372	2,165	2,958
Profit or loss in C$²	-4,448	-3,088	-1,728	2,353	3,713	5,074

1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 08:27 (GMT+1) 26/9/2023
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

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