Market Review 20-06

Market Review 20-06

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GBP/USD forecast: In a strong recovery mode ahead of UK retail sales, BoE

The post-FOMC USD weakness helped the pair to continue scaling higher for the third consecutive session on Thursday. Market participants now look forward to the UK monthly retail sales data for some short-term (11:30)

The UK central bank (BoE) is anticipated to maintain status quo amid persistent Brexit uncertainties, turning this to be a rather non-event for the GBP traders. Later during the early North-American session, the US economic docket – featuring the release of Philly Fed Manufacturing Index and the usual initial weekly jobless claims, might influence the USD price dynamics and further collaborate towards producing intraday trading opportunities.

From a technical perspective, the pair has been in a strong recovery mode over the past couple of trading session and the ongoing momentum could further get extended towards 1.2750-60 heavy supply zone. A convincing break through the mentioned barrier might prompt some additional short-covering move and assist the pair to aim towards reclaiming the 1.2800 round figure mark.

https://www.fxstreet.com/analysis/gbp-usd-forecast-in-a-strong-recovery-mode-ahead-of-uk-retail-sales-boe-201906200608

Trading Central – GBPUSD : sentiment is a Buy to 1.2775 if above 1.2650.

https://europefx.tradingcentral.com/Product?PK_ANALYSE=10272139

Number of Lots:
Required Margin:
Risk Management (200%):
Potential Profit / Loss @ 1.2775
1
€ 2,986.86
€ 5,973.72
€ 649.70
5
€ 14,934.29
€ 29,868.58
€ 3,248.50
10
€ 29,868.58
€ 59,737.16
€ 6,497.00
25
€ 74,671.45
€ 149,342.89
€ 16,242.50
50
€ 149,342.89
€ 298,685.78
€ 32,485.00

Trading Central – GBPJPY : sentiment is a Buy to 137.69 if above 136.08.

Number of Lots:
Required Margin:
Risk Management (200%):
Potential Profit / Loss @ 137.69
1
€ 2,960.59
€ 5,921.19
€ 877.40
5
€ 14,802.97
€ 29,605.94
€ 4,387.00
10
€ 29,605.94
€ 59,211.89
€ 8,774.00
25
€ 74,014.86
€ 148,029.72
€ 21,935.00
50
€ 148,029.72
€ 296,059.45
€ 43,870.00

Risk Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.28% of retail investor accounts lose money when trading CFDs with this provider. The information contained in this market review should not be construed in any way, as containing investment advice and/or a suggestion and/or solicitation for any trading activity and financial transaction. The data contained in this market review is not necessarily real-time nor accurate. The data and prices on the material are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. There is no guarantee and/or prediction of future performance. EuropeFX, its affiliates, agents, directors or employees do not guarantee the accuracy and validity of any information or data made available and assume no liability as to any loss arising from any investment based on the same. Trading Forex/CFD’s carries a high level of risk and can result in the loss of your whole investment. Forex/CFD’s are leveraged products and therefore Forex/CFD’s trading may not be appropriate for all investors. It is recommended that you do not invest more money than you can afford to lose to avoid significant financial problems in the case of losses. Please make sure you define the maximum risk acceptable for yourself.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.99% 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. Find more details about risk here.

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