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There is a 75% chance of GBPUSD trending upwards

Based on past Euro Area Industrial Production YoY news events there is a 75% chance of GBPUSD trending upwards. We expect this to happen because the released value is < -1.1%. A price movement of 13 pips may be on the cards. Historical events that allowed us to draw this conclusion

15 Mar 10:00
12 Jan 10:00
14 Jul 09:00

All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).

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We may see NIY trend upwards today with a 75% chance.

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