I am using Excel to help calculate potential TP and SP profits to use with other data. I am unsure though how profit is calculated given an entry and close price. Here is an example of a trade I took and the profit I gained.

Entry: 1.26080 Close:1.26587 PIPS 50.7 Profit: 4.46

I am trying to figure how this is calculated. This is the formula I have so far. I can calculate the PIPs correctly but not the profit

Pair: GBPUSD

Entry Price = 1.26080;

Close Price = 1.26587;

PIPs = (Entry Price - Close Price)/0.0001;

Points Profit = 0.01 * 100000 * 0.0001;

Profit = PIPs * Points Profit;

The result I get from this is PIPs: 50.7 Profit: 5.07

Entry: 1.26080 Close:1.26587 PIPS 50.7 Profit: 4.46

I am trying to figure how this is calculated. This is the formula I have so far. I can calculate the PIPs correctly but not the profit

Pair: GBPUSD

Entry Price = 1.26080;

Close Price = 1.26587;

PIPs = (Entry Price - Close Price)/0.0001;

Points Profit = 0.01 * 100000 * 0.0001;

Profit = PIPs * Points Profit;

The result I get from this is PIPs: 50.7 Profit: 5.07