We expect a 37 pip movement on GBPUSD within 2 hours following the event release.

Based on the last 12 Markit Manufacturing PMI Flash events in Germany, we expect a 37 pip movement on GBPUSD within 2 hours following the event release at 23 Jul 07:30 UTC. We expect GBPUSD to trend upwards 2 hours following the event release at 23 Jul 07:30 UTC if the released value is > 64.2

Historical events that allowed us to draw this conclusion

24 Mar 08:30
19 Feb 08:30
16 Dec 08:30
23 Nov 08:30
23 Oct 07:30
23 Sep 07:30
24 Jul 07:30

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

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