Based on the last 12 Ifo Business Climate events in Germany, we expect GBPUSD to trend downwards later today. Based on these past events there is a 80% chance of this. We expect GBPUSD to trend downwards 48 hours following the event release at 22 Feb 09:00 if the released value is > 96.5. A price movement of 67 pips is expected.
Historical events that allowed us to draw this conclusion
25 Jan 09:00 |
24 Jun 08:00 |
25 May 08:00 |
26 Mar 09:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
