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The British currency and the oil market

The British currency and the oil market | 22 April 2019

22 April 2019, GBP/USD

The British currency and the oil market

GBPUSD trading plan:

British investors are resting today. We are waiting for a quiet trade during the day. There is no reason for high volatility in the market. Investors will wait for Tuesday, when the market will return to the previous trading volumes. The British currency can get support from the bullish trend in the oil market. Traders buy oil for two reasons. The first reason is geopolitical tensions in Venezuela and Libya. The second reason is the reduction of drilling platforms in North America. #BRENT may test the mark of 74.50 this week.

Trading recommendation: Buy 1.2989 and take profit 1.3022.

David Johnson
Analyst of «FreshForex» company
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