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There is a 75% chance of GBPUSD trending upwards

Based on past Canada Inflation Rate YoY news events there is a 75% chance of GBPUSD trending upwards. We expect this to happen because the released value is > 7.4%. A price movement of 31 pips may be on the cards.

Historical events that allowed us to draw this conclusion

20 Apr 12:30
16 Mar 12:30
16 Feb 13:30
20 Oct 12:30
15 Sep 12:30
18 Aug 12:30

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

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