GBP/USD weekly special report based on 1 Lot Calculation:
EVENTS:
- RETAIL SALES IN UNITED STATES IN AUGUST (TUESDAY, SEPTEMBER 17 AT 13:30 GMT+1). U.S. retail sales for July came in stronger than anticipated, alleviating some of the financial market worries about a potential sharp economic downturn that had been stoked by an increase in the unemployment rate. Retail sales rose by 1.0% last month, rebounding from a revised 0.2% decline in June.
- U.K. CONSUMER PRICE INDEX FOR AUGUST (WEDNESDAY, SEPTEMBER 18 AT 07:00 GMT+1). In July, the UK's inflation rate increased for the first time this year, with an overall increase by 2.2%. This level is just above the Bank of England's 2% target, which had been maintained since May. The rise was expected and is attributed to gas and electricity prices declining less sharply than they did the previous year. However, the increase was lower than many economists had forecasted.
- FEDERAL RESERVE INTEREST RATE DECISION (WEDNESDAY, SEPTEMBER 18 AT 19:00 GMT+1). Following the recent U.S. inflation reading of 2.5%, which met expectations, markets have swiftly adjusted to anticipate a more aggressive approach from the Federal Reserve, with an increased likelihood of a bigger interest rate cut at its September meeting. According to CME, FedWatch Tool investors were placing the probability of the Fed lowering rates by 50 basis points at its meeting next week at 59%, up from the 13% chance seen a week prior. In other words, chances for Fed to cut rates from the current 5.50% to 5.00% have increased over the past few hours considerably.
- BANK OF ENGLAND INTEREST RATE DECISION (THURSDAY, SEPTEMBER 19 AT 12:00 GMT+1). The Bank of England is expected to maintain its main interest rate at 5.00%. However, despite inflation remaining above the central bank’s 2% target, a rate reduction is anticipated in November. In August, the Bank of England cut rates to 5.00% from a 16-year peak of 5.25%. Despite this cut, Governor Andrew Bailey emphasized that the bank would adopt a cautious approach to ensure inflation remains under control.
GBPUSD, September 16, 2024
Current Price: 1.31950
|
GBP/USD |
Weekly |
|
Trend direction |
|
|
1.3600 |
|
|
1.3450 |
|
|
1.3320 |
|
|
1.3070 |
|
|
1.3000 |
|
|
1.2950 |
Example of calculation based on weekly trend direction for 1.00 Lot1
|
Pivot Points |
||||||
|
Profit or loss in $ |
4,050.00 |
2,550.00 |
1,250.00 |
-1,250.00 |
-1,950.00 |
-2,450.00 |
|
Profit or loss in €² |
3,640.71 |
2,292.30 |
1,123.68 |
-1,123.68 |
-1,752.94 |
-2,202.41 |
|
Profit or loss in £² |
3,069.26 |
1,932.50 |
947.30 |
-947.30 |
-1,477.79 |
-1,856.71 |
|
Profit or loss in C$² |
5,257.59 |
3,310.33 |
1,622.71 |
-1,622.71 |
-2,531.43 |
-3,180.52 |
- 1.00 lot is equivalent of 100 000 units
- Calculations for exchange rate used as of 11:10 (GMT) 16/09/2024
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 the suggested one.
- Trailing stop technique could protect the profit