Based on the last 12 Ifo Business Climate events in Germany, we expect a 49 pip movement on GBPUSD within 2 hours following the event release at 2023-04-24 18:00. We expect GBPUSD to trend upwards 2 hours following the event release at 2023-04-24 18:00 if the released value is < 94 Historical events that allowed us to draw this conclusion

22 Feb 20:00	25 Jul 18:00
24 Jun 18:00

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