We expect GBPUSD to trend upwards later today. Based on these past Australia NAB Business Confidence news events there is a 75% chance of this. We expect this to happen if the released value is < -5. A price movement of 11 pips is expected. Historical events that allowed us to draw this conclusion
11 Mar 00:30 |
10 Dec 00:30 |
10 Sep 01:30 |
13 Aug 01:30 |
11 Jun 01:30 |
13 May 01:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
