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The trade deal?!

The trade deal?! | 24 December 2020

24 December 2020, GBP/USD

The trade deal?!

GBPUSD trading plan:

The senior diplomat, who spoke on condition of anonymity, said EU member states would have to approve a provisional application of the deal with effect from Jan. 1 because there was not enough time for the European Parliament to ratify it. "It seems the deal is pretty much there. It's a matter of announcing it today or tomorrow," said one EU diplomat. This is a positive signal for the British currency. A bullish rally in the oil market will provide additional support to the pound, as assets are correlated with each other. Refinery crude runs fell 169,000 barrels in the last week, EIA said. Crude inventories fell 562,000 barrels last week. Good news for the oil market!

Investment idea: Buy 1.3516 and take profit 1.3571.

David Johnson
Analyst of «FreshForex» company
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