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There is a 85.71% chance of GBPUSD trending upwards

Based on past United Kingdom Balance of Trade news events there is a 85.71% chance of GBPUSD trending upwards. We expect this to happen because the released value is > £-11.5B. A price movement of 34 pips is expected.

Historical events that allowed us to draw this conclusion

11 Feb 07:00
14 Jan 07:00
10 Dec 07:00
11 Nov 07:00
09 Jul 11:00
12 May 06:00

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

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