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There is a 80% chance of S trending downwards

Based on the last 12 Balance of Trade events in Germany, we could see S trend downwards right now. Based on historical events there is a 80% chance of this. This may happen because the released value is < €22.6B Historical events that allowed us to draw this conclusion

07 May 06:00
08 Apr 06:00
04 Sep 06:00
04 Jul 06:00

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

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We expect GBPUSD to trend upwards for the next 12 hours.

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