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We expect GBPUSD to trend downwards today with a 71.43% chance.

Based on the last 12 Consumer Confidence events in Japan, we expect GBPUSD to trend downwards later today. Based on these past events there is a 71.43% chance of this. We expect GBPUSD to trend downwards 48 hours following the event release at 05 Jan 05:00 if the released value is > 39.8. A price movement of 135 pips is expected.

Historical events that allowed us to draw this conclusion

29 Oct 05:00
30 Jun 05:00
31 May 05:00
08 Apr 05:00
04 Mar 05:00

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

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Important price line being approached by EUR/USD. This price has been tested numerous times before.

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