We expect GBPUSD to trend upwards today with a 80% chance.

Based on the last 12 Unemployment Rate events in Euro Area, we expect GBPUSD to trend upwards later today. Based on these past events there is a 80% chance of this. We expect GBPUSD to trend upwards 4 hours following the event release at 02 Jul 09:00 if the released value is = 7.7%. A price movement of 26 pips is expected.

Historical events that allowed us to draw this conclusion

03 Mar 10:00
09 Jan 10:00
30 Aug 09:00
31 Jul 09:00

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

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