GBP/USD

Special Reports - 29/11/2023

29 November, 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:

·EVENT: (US NFP and Unemployment, December 8th, 2023, GMT 13:30): The upcoming economic update from the United States is poised to unveil Non-Farm Payroll (NFP) and Unemployment statistics. In the prior release, NFP data reflected a count of 150,000 jobs added (vs. 180,000 expected), while the Unemployment rate stood at 3.9% (vs. 3.8% expected). These lower-than-expected figures brought the GBP/USD pair from 1.21855 to 1.23758 (+1.55%) (Source: MT4)

Please note that past performance does not guarantee future results.

·EVENT (US Inflation CPI, December 12th, 2023, GMT 13:30): The United States is scheduled to release its key inflation indicator, CPI, on December 12th. In the prior release, CPI data reflected a lower-than-expected inflation rate which indicates that the Federal Reserve could stop interest rate hikes which could weaken USD and benefit the GBPUSD pair.

·EVENT (Federal Reserve Interest Decision, December 13th, 2023, GMT 13:30): The Federal Reserve Bank will meet on December 13th to set the Federal Funds Rate target. According to the CME Group, analysts are forecasting that the Federal Reserve will hold interest rates at their current level of 5.50%

·EVENT (Bank of England Interest Rate Decision, December 14th, 2023, GMT 12:00): The Bank of England will meet on December 14th to set their target for the UK Interest Rate. BoE Governor Andrew Bailey confirmed that it is too early to discuss rate cuts as BoE tries to get inflation down to its target level of 2% despite positive macroeconomic UK data for the month of October. Further rate hikes could strengthen the GBP against the USD.

·INFLATION ON A DOWNWARD TREND, COULD WEAKEN THE US DOLLAR: With declining inflation compared to last year, the US Dollar has moved below its 2022 highs.

GBPUSD, November 29, 2023
Current Price:1.270

GBP/USD	Weekly
Trend direction	UP
Resistance 3	1.360
Resistance 2	1.320
Resistance 1	1.290
Support 1	1.251
Support 2	1.245
Support 3	1.240

Pivot Points	Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
Profit or loss in $	9,000.00	5,000.00	2,000.00	-1,900.00	-2,500.00	-3,000.00
Profit or loss in €²	8,192.06	4,551.14	1,820.46	-1,729.43	-2,275.57	-2,730.69
Profit or loss in £²	7,090.77	3,939.32	1,575.73	-1,496.94	-1,969.66	-2,363.59
Profit or loss in C$²	12,213.81	6,785.45	2,714.18	-2,578.47	-3,392.72	-4,071.27

1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 09:20 (GMT) 29/11/2023
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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