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 |
|
1.2500 |
|
1.2400 |
|
1.2300 |
|
1.2000 |
|
1.1900 |
|
1.1800 |
Example of calculation base on weekly trend direction for 1.00 Lot1
Pivot Points |
||||||
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