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We expect GBPUSD to trend downwards today.

Based on the last 12 New Home Sales 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 2 hours following the event release at 23 Aug 14:00 if the released value is < 0.649M. A price movement of 7 pips is expected. Historical events that allowed us to draw this conclusion

25 Jun 14:00
24 Oct 14:00
23 Aug 14:00

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

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GBP/CAD Target Level: 1.6366

GBP/CAD Target Level: 1.6366

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3m Co. is approaching a support line of a Falling Wedge. It has touched this line numerous times in the last 21 days.

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