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We expect GBPUSD to trend upwards right now.

Based on the last 12 Balance of Trade events in Germany, we expect GBPUSD to trend upwards right now. Based on these past events there is a 70% chance of this. We expect GBPUSD to trend upwards for the next 4 hours because the released value is > €17.2B. A price movement of 84 pips is expected.

Historical events that allowed us to draw this conclusion

10 Oct 06:00
09 Sep 06:00
08 Jul 06:00
07 Jun 06:00
10 May 06:00
08 Apr 06:00
11 Mar 07:00

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

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