We expect GBPUSD to trend upwards later today. Based on these past United Kingdom Balance of Trade news events there is a 75% chance of this. We expect this to happen if the released value is > £-4.9B. A price movement of 59 pips is expected.
Historical events that allowed us to draw this conclusion
10 Mar 07:00 |
13 Jan 07:00 |
12 Dec 07:00 |
11 Nov 07:00 |
12 Sep 06:00 |
11 Apr 06:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
