Identifying Hedging Derivative Strategy

A company, Global Tech Inc., is concerned about the potential decline in the value of its receivables that are denominated in euros (€) due to fluctuations in the euro exchange rate. The company expects to receive a payment of €1 million in six months and wants to minimize the risk of currency movements affecting this cash inflow.

To hedge this currency risk, Global Tech Inc. considers entering into a forward contract to sell euros at a specified exchange rate in six months. This strategy is designed to protect the company from potential losses caused by unfavorable movements in the euro's value.

Which type of derivative strategy is Global Tech Inc. employing in this scenario?