We expect GBPUSD to trend downwards for the next 2 hours. Based on these past Japan Consumer Confidence news events there is a 75% chance of this. We expect this to happen because the released value is > 31. A price movement of 16 pips is expected.
Historical events that allowed us to draw this conclusion
31 May 05:00 |
29 Oct 05:00 |
01 Oct 05:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
