Why you should close your GBPUSD positions today

Be very careful of upcoming volatility because of United States Existing Home Sales news event later today. Based on the last 12 Existing Home Sales events in United States, we expect a $220 movement on GBPUSD within 12 hours following the event release at 19 Dec 15:00. We expect this to happen if the released value is > 5.2M. A price movement of 22 pips is expected.

Historical events that allowed us to draw this conclusion

21 Nov 15:00
23 Apr 15:00
20 Dec 15:00

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

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