11 June 2021, GBP/USD
GBPUSD trading plan:
Brent topped $72 a barrel this week for the first time in more than two years. The market is firming in a bullish structure. The prompt time spread for Brent was 55 cents in backwardation -- where near-dated prices are more expensive than later-dated ones. That compares with 38 cents on Monday. Oil demand will jump by about 5 million barrels a day -- or roughly 5% -- in the second half of 2021 compared with the first half, according to a report from OPEC. This is a positive signal for oil and the British currency, as the assets are correlated with each other.
Investment idea: buy 1.4162 and take profit 1.4225.