GBP/USD Weekly Special Report based on 1.00 Lot Calculation:
● EVENT (US Q4 GDP 2023 - MARCH 28TH 2024 12:30 GMT): The United States is expected to release their final reading for the Q4 2023 GDP on March 28th 2024. The previous reading came in at 4.9%. The expectation for this reading is 3.2%. If this figure comes in lower than expected this would indicate a slowing economy which could lead to a weakening of the US Dollar and could impact the GBPUSD pair.
● EVENT (FEDERAL RESERVE CHAIRMAN JEROME POWELL SPEECH - MARCH 29TH 2024 15:30 GMT): Federal Reserve Chairman Jerome Powell will be giving a speech at the Federal Reserve Bank of San Francisco Macroeconomics and Monetary Policy Conference in a moderated discussion. As the “most influential” central banker in the world, Jerome Powell’s words have a lot of impact on markets and if Jerome Powell strikes a dovish tone at this conference, it could weaken the US Dollar and potentially push the GBPUSD pair higher.
● EVENT (CORE PCE PRICE INDEX YEAR-ON-YEAR FOR FEBRUARY- MARCH 29, 2024 12:30 GMT): The Core PCE Price Index is a key inflation metric that the Federal Reserve tracks in order to inform its interest rate policy. The Core PCE Price Index has been decreasing, reporting lower numbers since October 2023. Should the Core PCE Price Index come in lower than expected, this could be a bullish catalyst for the GBPUSD pair, as the US dollar would likely weaken.
●EVENT (US NON-FARM PAYROLL AND UNEMPLOYMENT RATE (MARCH) - APRIL 5TH 2024 12:30 GMT): The United States will be releasing Non-Farm Payrolls and Unemployment. Nonfarm Payrolls have been trending lower recently, while Unemployment has been increasing. If the Non-Farm Payrolls continue to fall while Unemployment rises, there could be extended US dollar weakness and may push the GBPUSD higher.
GBPUSD, March 26, 2024
Current Price: 1.260
|
GBP/USD |
Weekly |
|
Trend direction |
|
|
1.350 |
|
|
1.300 |
|
|
1.280 |
|
|
1.241 |
|
|
1.238 |
|
|
1.235 |
|
Pivot Points |
||||||
|
Profit or loss in $ |
9,000.00 |
4,000.00 |
2,000.00 |
-1,900.00 |
-2,200.00 |
-2,500.00 |
|
Profit or loss in €² |
8,297.34 |
3,687.71 |
1,843.85 |
-1,751.66 |
-2,028.24 |
-2,304.82 |
|
Profit or loss in £² |
7,113.70 |
3,161.64 |
1,580.82 |
-1,501.78 |
-1,738.90 |
-1,976.03 |
|
Profit or loss in C$² |
12,223.89 |
5,432.84 |
2,716.42 |
-2,580.60 |
-2,988.06 |
-3,395.52 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 08:40 (GMT) 26/03/2024
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