Based on the last 12 ISM Manufacturing PMI events in United States, we expect a 54 pip movement on GBPUSD within 4 hours following the event release at 2023-05-02 00:00. We expect GBPUSD to trend downwards 4 hours following the event release at 2023-05-02 00:00 if the released value is > 46.8

Historical events that allowed us to draw this conclusion

02 Nov 01:00	02 Aug 00:00
02 Jun 00:00

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