GBP/USD Weekly Special Report based on 1.00 Lot Calculation:
- EVENT (WEDNESDAY, JULY 31 AT 19:00 GMT+1): US FEDERAL RESERVE INTEREST RATE DECISION. The Federal Reserve Bank will meet on July 31, to set the Fed Funds rate target. According to the most recent estimates, analysts are expecting the Federal Reserve to hold interest rates at the current level of 5.50%.
- EVENT (THURSDAY, AUGUST 1 AT 12:00 GMT+1): BANK OF ENGLAND INTEREST RATE DECISION. The Bank of England meeting is scheduled for August 1st and the bank is expected to cut rates from 5.25% to 5.00%, which could push the GBPUSD pair lower.
- EVENT (FRIDAY, AUGUST 2 AT 13:30 GMT+1): US NONFARM PAYROLLS (NFP) AND UNEMPLOYMENT (JULY). The United States will be reporting NFP and Unemployment data later this week. Should NFP come in higher than expected and/or Unemployment comes in lower than expected, this could strengthen the USD and weaken the GBPUSD pair.
GBPUSD, JULY 29, 2024
Current Price: 1.2800
|
GBP/USD |
Weekly |
|
Trend direction |
|
|
1.300 |
|
|
1.295 |
|
|
1.291 |
|
|
1.268 |
|
|
1.259 |
|
|
1.249 |
Example of calculation based on weekly trend direction for 1.00 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
-2,000.00 |
-1,500.00 |
-1,100.00 |
1,200.00 |
2,100.00 |
3,100.00 |
|
Profit or loss in €² |
-1,846.88 |
-1,385.16 |
-1,015.78 |
1,108.13 |
1,939.22 |
2,862.66 |
|
Profit or loss in £² |
-1,560.72 |
-1,170.54 |
-858.40 |
936.43 |
1,638.76 |
2,419.12 |
|
Profit or loss in C$² |
-2,767.79 |
-2,075.84 |
-1,522.28 |
1,660.67 |
2,906.18 |
4,290.07 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 10:40 (GMT+1) 29/07/2024
There is a possibility to use Stop-Loss and Take-Profit.
- You may wish to consider closing your position in profit, even if it is lower than suggested one.
- Trailing stop technique could protect the profit.