Based on the last 12 ISM Manufacturing PMI events in United States, we expect GBPUSD to trend downwards later today. Based on these past events there is a 75% chance of this. We expect GBPUSD to trend downwards 12 hours following the event release at 04 Jan 15:00 if the released value is < 60. A price movement of 35 pips is expected. Historical events that allowed us to draw this conclusion
02 Aug 14:00 |
01 Jul 14:00 |
03 May 14:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
