We expect GBPUSD to trend upwards later today. Based on these past Canada GDP Growth Rate QoQ news events there is a 83.33% chance of this. We expect this to happen if the released value is > 0.5%. A price movement of 191 pips is expected.

Historical events that allowed us to draw this conclusion

03 Mar 00:30	28 Aug 22:30
29 May 22:30	30 Nov 00:30
01 Dec 00:30

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