GBPUSD Weekly downtrend opportunity based on 1 Lot Calculation:
- EVENT: Friday, September 2 at 13:30 GMT+1 – The United States will report Nonfarm Payrolls for August. The Market is anticipating that Nonfarm payrolls will be lower than the previous month, with 300k jobs forecasted for August. If the number comes in higher, this will maintain a hawkish signal to the Federal Reserve, which may have to be more aggressive at the next interest rate meeting.
- EVENT: Friday, September 2 at 13:30 GMT+1 – The United States will report the Unemployment Rate for August. The Market is anticipating that the Unemployment Rate for the United States will remain 3.5%. If the Unemployment Rate comes in lower, this will indicate a strong labor market, which will signal to the Federal Reserve that it can continue to raise interest rates, which could result in a stronger USD.
- EVENT: Monday, September 5 at 09:00 GMT+1 – The UK will report Composite PMI for August: The UK is anticipated to report a Composite PMI of 52.8. If the value comes in lower, this will signal the UK economy is contracting, which could result in a weaker GBP.
- POLITICAL INSTABILITY IN THE U.K TO IMPACT THE UK POUND NEGATIVELY: The U.K is still looking for a new prime minister to replace ousted former prime minister Boris Johnson. The longer the process is drawn out, the greater the loss of confidence in the pound sterling, as investors are likely to move to a safer currency in times of uncertainty. This could further devalue this currency pair.
*PLEASE NOTE, ALL MARKET FORECASTS INCLUDED IN THIS MARKET OPPORTUNITY IS SOURCED FROM INVESTING.COM
GBPUSD, September 1, 2022
Current Price: 1.1600
|
GBP/USD |
Weekly |
|
Trend Direction |
|
|
1.1900 |
|
|
1.1820 |
|
|
1.1760 |
|
|
1.1400 |
|
|
1.1300 |
|
|
1.2600 |
Example of calculation based on weekly trend direction for 1 Lot1
|
Profit or loss Short in $ |
-3,000.00 |
-2,200.00 |
-1,600.00 |
2,000.00 |
3,000.00 |
3,400.00 |
|
Profit or loss Short in €2 |
-3,018.87 |
-2,213.84 |
-1,610.06 |
2,012.58 |
3,018.87 |
3,421.38 |
|
Profit or loss Short in £2 |
-2,573.45 |
-1,887.20 |
-1,372.51 |
1,715.63 |
2,573.45 |
2,916.58 |
|
Profit or loss Short in C$2 |
-3,921.48 |
-2,875.75 |
-2,091.46 |
2,614.32 |
3,921.48 |
4,444.34 |
1. 1 lot is equivalent of 100,000 units
2. Calculations for exchange rate used as of 10:45 (GMT+1) 01/09/2022
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