We expect GBPUSD to trend downwards later today. Based on these past Euro Area Industrial Production YoY news events there is a 66.67% chance of this. We expect this to happen if the released value is < 4.1%. A price movement of 89 pips is expected. Historical events that allowed us to draw this conclusion

12 Aug 19:00	12 May 19:00
14 Apr 19:00	12 Nov 21:00

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