We expect GBPUSD to trend downwards for the next 12 hours. Based on these past United Kingdom Retail Sales MoM news events there is a 80% chance of this. We expect this to happen because the released value is > -0.3%. A price movement of 34 pips is expected.
Historical events that allowed us to draw this conclusion
21 Feb 07:00 |
18 Oct 06:00 |
21 Jun 06:00 |
22 Mar 07:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
