U.S. experimental vaccine was declared safe | 15 July 2020

GBPUSD trading plan:

U.S. biotech firm Moderna Inc experimental COVID-19 vaccine was declared safe and generated “robust” immune responses in all 45 volunteers taking part in the study, according to early-stage human trial results published in the New England Journal of Medicine. The data boosted hopes of a cure for the virus. This is a positive signal for “high-yield” assets. Additional support for the pound will be provided by a bullish rally in the oil market. In June, OPEC and its allies delivered compliance of 107% with their agreed oil output cuts, an OPEC+ source said. Meanwhile, OPEC said in its monthly report that global oil demand would soar by a record 7 million bpd in 2021 as the global economy recovers from the COVID-19 pandemic.

Trading recommendation: Buy 1.2566 and take profit 1.2605.