CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% 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. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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GBP/USD

Special Reports - 05/09/2024

05 September, 2024

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 Lot Calculation:

EVENTS:

  • FRIDAY, SEPTEMBER 6 AT 13:30 GMT+1: US NONFARM PAYROLLS AND UNEMPLOYMENT RATE (AUGUST). The US labour market has seen some weakness over the past few months as the unemployment rate managed to rise to its highest since late 2021 (4.3%). This is creating a headache to the US Federal Reserve ahead of the September meeting and this week’s data could give better clues whether the Fed could be more aggressive in cutting interest rates in the next few months.
  • FEDERAL RESERVE INTEREST RATE DECISION (WEDNESDAY, SEPTEMBER 18 AT 19:00 GMT+1). The most recent economic turmoil in the US raised chances that the Fed could cut interest rates by 25 basis points in September, another 50 basis points in November and 25 basis points in December 2024. All in all, that could reduce interest rates from the current 5.5% (the highest in over 20 years) to 4.50%.
  • BANK OF ENGLAND INTEREST RATE DECISION (THURSDAY, SEPTEMBER 19 AT 12:00 GMT+1). The Bank of England is expcted to keep cutting its rates, too. In September, the bank is expected to slash rates by 25 basis points to 4.75% from the current 5.00%. This would be its second cut in 2024.

GBP/USD, September 5, 2024
Current Price: 1.3140

GBP/USD

Weekly

Trend direction

UP

Resistance 3

1.3500

Resistance 2

1.3340

Resistance 1

1.3240

Support 1

1.3040

Support 2

1.3000

Support 3

1.2970

Example of calculation based on weekly trend direction for 1 Lot1

GBP/USD

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

3,600.00

2,000.00

1,000.00

-1,000.00

-1,400.00

-1,700.00

Profit or loss in €2

3,244.50

1,802.50

901.25

-901.25

-1,261.75

-1,532.13

Profit or loss in £2

2,736.20

1,520.11

760.05

-760.05

-1,064.08

-1,292.09

Profit or loss in C$2

4,864.40

2,702.45

1,351.22

-1,351.22

-1,891.71

-2,297.08

1. 1.00 lot is equivalent of 100,000 units

2. Calculations for exchange rate used as of 12:30 (GMT+1) 5/09/2024

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.
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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. 73% 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. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks 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. See full risk warning

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You do not own, or have any interest in, the underlying assets. Fortrade Canada Limited is an Order Execution Only broker, and does not provide investment advice or recommendation. Fortrade is a member of the Canadian Investment Regulatory Organization (CIRO) and a member of the Canadian Investor Protection Fund (CIPF). Fortrade Canada Limited is authorised to provide CFD trading services in all provinces in Canada except Quebec. Residents of Alberta province are required to be Accredited Investors to trade CFDs.

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Risk Warning and Disclaimer: CFDs are complex and highly speculative instruments, which come with a high risk of losing money rapidly due to leverage. 75% 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 invested capital.

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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. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. You can lose all the balance of your trading account, but not more than that, due to Fortrade’s negative balance protection.

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