GBP/USD Weekly Special Report based On 1.00 Lot Calculation:
· EVENT (US INFLATION CPI - February 13, 2024, 13:30 GMT): The United States is expected to release its CPI inflation figures for the month of January on February 13, 2024. Inflation has been steadily falling since its peak of 9.1% in July 2022 to 3.4% as of the latest reading. If the print comes in lower than expected this could weaken the dollar and push the GBPUSD pair higher.
· EVENT (UK INFLATION CPI - February 14, 2024, 07:00 GMT): The United Kingdom is expected to release its CPI print for the month of January Year-on-Year. The previous print came in higher than the expected 3.8% at 4.0%. Bank of England officials have stated that interest rates will most likely need to stay higher for longer which could push the GBPUSD pair higher.
· EVENT (UK GDP Q4 2023 - February 15, 2024, 07:00 GMT): The United Kingdom is expected to release its GDP print for the month of January. The previous print came in lower than the expected at 0.0% at -0.1%. If the upcoming print comes in higher than expected, this would imply that interest rates will need to stay higher for longer which could push the GBPUSD pair higher.
· EVENT (US Q4 2023 GDP - February 28, 2024 13:30 GMT): The United States is expected to release its GDP figures for the fourth quarter of 2023 on February 28, 2024. At the last reading, which was a preliminary reading, GDP came in higher than expected (3.3% vs 2.0%). If the upcoming print comes in lower than expected this could weaken the dollar and push the GBPUSD pair higher.
· EVENT (US PCE Index - February 29, 2029 13:30 GMT): The United States is expected to release its PCE Index figures for the month of January on February 29, 2024. The PCE index is the Federal Reserve’s preferred measure of inflation. At the last reading, the PCE index came in lower than expected (2.9% vs 3.0%). If the upcoming print comes in lower than expected again this could weaken the dollar and push the GBPUSD pair higher.
GBPUSD, February 12th, 2024
Current Price:1.262
|
GBP/USD |
Weekly |
|
Trend direction |
|
|
1.350 |
|
|
1.320 |
|
|
1.285 |
|
|
1.240 |
|
|
1.230 |
|
|
1.220 |
|
Pivot Points |
||||||
|
Profit or loss in $ |
8,840.00 |
5,840.00 |
2,340.00 |
-2,160.00 |
-3,160.00 |
-4,160.00 |
|
Profit or loss in €² |
8,208.71 |
5,422.95 |
2,172.89 |
-2,005.75 |
-2,934.33 |
-3,862.92 |
|
Profit or loss in £² |
7,005.64 |
4,628.16 |
1,854.43 |
-1,711.79 |
-2,504.28 |
-3,296.77 |
|
Profit or loss in C$² |
11,901.73 |
7,862.68 |
3,150.46 |
-2,908.12 |
-4,254.47 |
-5,600.82 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 11:50 (GMT) 12/02/2024
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