21 December 2020, GBP/USD
GBPUSD trading plan:
British retail sales fell sharply last month when a four-week lockdown in England closed stores which sold non-essential goods to the public. Retail sales volumes dropped by 3.8% on the month in November, their biggest decline since the first lockdown in April. Annual sales growth halved to 2.4% from 5.8%, the Office for National Statistics said. This is negative news for the British currency. A bullish rally in the oil market will have a positive impact on the value of the pound, as assets are correlated with each other. Oil prices were up for a seventh straight week, the longest winning streak in 20 months, as bets for economic recovery in 2021 were turbocharged by expectations that a new Covid-19 fiscal relief worth almost $1 trillion will pass Congress soon.
Investment idea: range 1.3220 -1.3320.
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