We expect GBPUSD to trend downwards later today. Based on these past United Kingdom Retail Sales MoM news events there is a 80% chance of this. We expect this to happen if the released value is < 0.4%. A price movement of 68 pips is expected. Historical events that allowed us to draw this conclusion
25 Jul 06:00 |
20 Jun 06:00 |
17 Jan 07:00 |
22 Nov 07:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
