CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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. 70.91% 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 - 26/09/2023

26 September, 2023

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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Risk Warning and Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.91% 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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