Based on past United States Existing Home Sales news events there is a 80% chance of GBPUSD trending downwards. We expect this to happen if the released value is > 4.38M. A price movement of 294 pips is expected.

Historical events that allowed us to draw this conclusion

22 Sep 00:00	22 Jun 00:00
19 Feb 02:00	23 Nov 02:00

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