Based on the last 12 Ifo Business Climate events in Germany, we expect GBPUSD to trend downwards later today. Based on these past events there is a 80% chance of this. This may happen if the released value is > 83.3

Historical events that allowed us to draw this conclusion

25 Aug 18:00	25 Apr 18:00
22 Feb 20:00	25 Jan 20:00

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