GBP/USD

GBP/USD weekly special report based On 1.00 Lot Calculation:

• EVENT (WEDNESDAY, JUNE 21 AT 07:00 GMT+1): UK INFLATION (CPI) FOR MAY. The UK Inflation remains relatively high at 8.7%, which may require more action on the part of the Bank of England, as their target remains 2.00%. May data should give markets an indication what the Bank of England could do in the months ahead. Therefore, the markets can be expected to see higher volatility in the UK Pound.
• EVENT (THURSDAY, JUNE 22 AT 12:00 GMT+1): BANK OF ENGLAND INTEREST RATE DECISION. The Bank of England is expected to further raise interest rates in a fight against inflation. The bank is expected to raise rates from current 4.50% to 4.75%, which would be the highest since 2008. In an environment of rising interest rates, demand for the UK Pound rises.
• EVENT (THURSDAY, JUNE 22 AT 15:00 GMT+1): US FEDERAL RESERVE CHAIRMAN JEROME POWELL SPEAKS. According to Reuters, Federal Reserve Chair Jerome Powell will testify at the U.S. Senate Banking Committee. The testimony marks the second iteration of the Fed chair's twice-yearly reports to Congress on the state of U.S. monetary policy, and will come a week after the Fed's upcoming interest-rate-setting meeting at which it is expected to leave borrowing costs unchanged despite still-high inflation.

GBPUSD, June 16, 2023
Current Price: 1.2770

Example of calculation base on weekly trend direction for 1.00 Lot¹

1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 09:10 (GMT+1) 16/06/2023
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