Risk Disclaimer: The example below is for illustrative purposes only and is based on price movements derived from Contracts for Difference (CFDs). The calculations reflect hypothetical outcomes using historical or specified price data for the relevant instrument on the stated date and are not indicative of future performance. Any reliance placed on this material is strictly at the user’s own risk.
Weekly Special Report: GBP/USD
GEOPOLITICS: MIDDLE EAST
- BREAKING (MAY 6) U.S.A. – IRAN DEAL REPORTEDLY CLOSE TO REACHING? A U.S. media outlet reported on Wednesday that the White House believed it was closing in on a one-page memorandum to end the war with Iran, with reports saying the U.S. expected Iranian responses on several key points in the next 48 hours.
- BREAKING (MAY 5): U.S. PRESIDENT TRUMP ANNOUNCED THE SUSPENSION OF "PROJECT FREEDOM". US President Trump posted the following: Based on the request of Pakistan and other Countries, the tremendous Military Success that we have had during the Campaign against the Country of Iran and, additionally, the fact that Great Progress has been made toward a Complete and Final Agreement with Representatives of Iran, we have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom (The Movement of Ships through the Strait of Hormuz) will be paused for a short period of time to see whether or not the Agreement can be finalized and signed.
EVENTS:
- FRIDAY, MAY 08 AT 13:30 GMT+1: U.S. NONFARM PAYROLLS (NFP) AND UNEMPLOYMENT RATE (APRIL): Markets expect NFP to slow sharply to 73K from 178K previously, while the unemployment rate is forecast to remain unchanged at 4.3%. Weaker-than-expected job growth or an unexpected rise in the unemployment rate would reinforce expectations for Federal Reserve rate cuts, likely weighing on the U.S. dollar and supporting further upside in GBP/USD.
- TUESDAY, MAY 12 AT 13:30 GMT+1: U.S. INFLATION DATA (CPI) (APRIL): Markets will closely watch the April CPI release amid concerns that rising energy prices could put renewed upward pressure on inflation. The previous reading showed headline CPI at 3.3% YoY. Signs of easing price pressures would reinforce expectations for Federal Reserve rate cuts, likely weighing on the U.S. dollar and supporting further upside in GBP/USD.
- THURSDAY, MAY 14 AT 07:00 GMT+1: UK GROSS DOMESTIC PRODUCT (GDP) (Q1): Markets will closely watch the UK Q1 GDP release for further signs of economic momentum. The previous readings showed annual GDP growth at 1.0% YoY, monthly growth at 0.5%, and quarterly growth at 0.1%. Stronger economic activity could reinforce confidence in the UK outlook, supporting the pound and pushing GBP/USD higher.
- THURSDAY, MAY 14 AT 07:00 GMT+1: UK INDUSTRIAL PRODUCTION (MARCH): Markets will closely watch the industrial production figures for further signs of momentum in the UK economy. The previous reading showed output expanding by 0.5% MoM. Stronger production growth could reinforce confidence in the UK outlook and support the pound.
TECHNICAL ANALYSIS:
- UPTREND: As depicted in the daily chart below, the GBP/USD price has been rising within an uptrend channel since late March 2026, when the pair traded around 1.3150. GBP/USD is currently trading around 1.3600. However, the price could also decline.
- SUPPORT AREA: 1.3400. This zone represents a key support area for GBP/USD.
GRAPH (Weekly): September 2022 – May 2026
Please note that past performance does not guarantee future results
GBPUSD, May 6, 2026
Current Price: 1.3600
Example of calculation based on weekly market trend for 1.00 Lot1
|
GBP/USD
|
|
Pivot Points
|
Resistance 3
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Resistance 2
|
Resistance 1
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Support 1
|
Support 2
|
Support 3
|
|
Profit or loss in $
|
4,000
|
3,000
|
2,000
|
-1,500
|
-1,750
|
-2,000
|
|
Profit or loss in €2
|
3,399
|
2,550
|
1,700
|
-1,275
|
-1,487
|
-1,700
|
|
Profit or loss in £2
|
2,937
|
2,203
|
1,468
|
-1,101
|
-1,285
|
-1,468
|
|
Profit or loss in C$2
|
5,439
|
4,079
|
2,720
|
-2,040
|
-2,380
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-2,720
|
- The above calculations are made based on 1.00 lot which is equivalent of 100,000 units
- Calculations for exchange rate used as of 12:30 (GMT+1) 06/05/2026
You can use risk management tools such as Stop-Loss and Take-Profit.