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We expect GBPUSD to trend downwards today.

Based on the last 12 Existing Home Sales 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 23 Jul 14:00 if the released value is < 5.33M. A price movement of 13 pips is expected. Historical events that allowed us to draw this conclusion

21 May 14:00
22 Apr 14:00
21 Feb 15:00
20 Sep 14:00
22 Aug 14:00
23 Jul 14:00

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

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We expect a 1 pip movement on NZDUSD within 2 hours following the event release.

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After testing the resistance line numerous times, UK100 is once again approaching this line. Can we expect a bullish trend to follow?

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