We expect GBPUSD to trend upwards later today. Based on these past United States ISM Manufacturing PMI news events there is a 75% chance of this. We expect this to happen if the released value is > 48.4. A price movement of 92 pips is expected.
Historical events that allowed us to draw this conclusion
02 Dec 15:00 |
01 Feb 15:00 |
03 Jan 15:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
