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 > -0.5%. A price movement of 22 pips is expected.

Historical events that allowed us to draw this conclusion

14 Dec 21:00	15 Sep 19:00
14 Jun 19:00	12 Mar 21:00

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