Based on the last 12 Markit Manufacturing PMI Flash events in Germany, we expect a $530 movement on GBPUSD within 12 hours following the event release at 21 Feb 19:30. We expect GBPUSD to trend downwards 12 hours following the event release at 21 Feb 19:30 if the released value is < 44.8 Historical events that allowed us to draw this conclusion

16 Dec 19:30	24 Oct 18:30
18 Apr 17:30	21 Feb 19:30

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