31 August 2021, GBP/USD
GBPUSD trading plan:
The bullish rally in the oil market will have a positive impact on the value of the British currency, since assets are correlated with each other. U.S. oil futures settled above $69 a barrel for the first time in over two weeks after falling as much as 1.6% earlier. Gulf of Mexico producers had shut in about 1.7 million barrels a day of crude output ahead of the storm but most of these assets are expected to resume service steadily. Hurricane Ida pummeled New Orleans and the Louisiana coast overnight with lashing rain and ferocious gusts, leaving much of the region without electricity and bracing for widespread floods. The storm drove a wall of water inland when it thundered ashore Sunday as a Category 4 hurricane and reversed the course of part of the Mississippi River.
Investment idea: buy 1.3760 and take profit 1.3820.
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