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We expect GBPUSD to trend downwards today with a 75% chance.

Based on the last 12 ISM Manufacturing PMI events in United States, we expect GBPUSD to trend downwards later today. Based on these past events there is a 75% chance of this. We expect GBPUSD to trend downwards 12 hours following the event release at 04 Jan 15:00 if the released value is < 60. A price movement of 35 pips is expected. Historical events that allowed us to draw this conclusion

02 Aug 14:00
01 Jul 14:00
03 May 14:00

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

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Resistance line breached by Wal-Mart Stores. This price has been tested at least twice before.

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We expect a $0 movement on 6S within 48 hours following the event release at 04 Jan 15:00.

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