CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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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GBPUSD is falling 0.6%

Fast Moving Market - 02/01/2025

02 January, 2025

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.

NEWS: GBPUSD is falling 0.6% as safe- haven demand for the US dollar rose after yesterday’s terrorist attack in New Orleans, USA.

Possible Scenarios:

If GBPUSD fails to breach through S2 of 1.24583, our Research Department expects GBPUSD to undergo a short- term upward correction.

If GBPUSD manages to break below its S2 of 1.24583, our Research Department expects GBPUSD to extend its losses to its S3 of 1.24284.

Support and Resistance Levels:

GBPUSD

S3

S2

S1

Reference Price

R1

R2

R3

1.24284

1.24583

1.24882

1.25280

1.25678

1.25977

1.26276

Potential Profit or Potential Loss Calculations:

10 pips per 1 trading lot*

USD

EUR**

GBP***

(+/-) $100

(+/-) €96.71

(+/-) £80.22

*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.03402
***GBP/USD = 1.24662
Calculations for exchange rate used as of Thursday, January 2, 2025, 10:40 GMT

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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. 67% 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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