GBP/USD Weekly Special Report based On 1.00 Lot Calculation:
● EVENT (UK GENERAL ELECTION - JULY 4, 2024): Prime Minister Rishi Sunak called a parliamentary election for July 4, which analysts said removed a degree of political uncertainty from the picture for traders. The opposition Labour Party has held a lead over the Conservatives of around 20 points in opinion polls since late 2021. Markets reacted positively to the announcement. This event could lend further support for the GBPUSD pair.
● EVENT: FRIDAY, JULY 5 AT 13:30 GMT+1: US NFP & UNEMPLOYMENT. The United States will be reporting NFP and Unemployment data later this week. Should NFP come in lower than expected and/or Unemployment come in higher than expected, this could weaken the USD and strengthen the GBPUSD pair.
● EVENT: THURSDAY, JULY 11 AT 13:30 GMT+1: US CPI DATA FOR JUNE. The United States will be reporting CPI data. The US CPI has been trending lower, well below its 2022 peak of 9.1%. The most recent print showed CPI at 3.3%. Should the CPI come in lower than expected, the USD may be expected to weaken which could provide support for the GBPUSD pair.
GBPUSD, JULY 4, 2024
Current Price: 1.274
|
GBP/USD |
Weekly |
|
Trend direction |
|
|
1.320 |
|
|
1.300 |
|
|
1.283 |
|
|
1.265 |
|
|
1.263 |
|
|
1.260 |
|
Pivot Points |
||||||
|
Profit or loss in $ |
4,600.00 |
2,600.00 |
900.00 |
-900.00 |
-1,100.00 |
-1,400.00 |
|
Profit or loss in €² |
4,262.77 |
2,409.39 |
834.02 |
-834.02 |
-1,019.36 |
-1,297.37 |
|
Profit or loss in £² |
3,608.04 |
2,039.33 |
705.92 |
-705.92 |
-862.79 |
-1,098.10 |
|
Profit or loss in C$² |
6,269.48 |
3,543.62 |
1,226.64 |
-1,226.64 |
-1,499.22 |
-1,908.10 |
1. 1.00 lot is equivalent of 100.000 units
2. Calculations for exchange rate used as of 08:20 (GMT+1) 04/07/2024
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 can protect the profit.