Correlation between the British currency and oil | 23 November 2021

23 November 2021, GBP/USD

Correlation between the British currency and oil

GBPUSD trading plan:

The U.S. Department of Energy is expected to announce a loan of oil from the Strategic Petroleum Reserve on Tuesday in coordination with other countries. U.S. President Joe Biden has asked China, India, South Korea and Japan for a coordinated release of oil stocks as U.S. gasoline prices soar and his approval ratings slump ahead of next year's congressional elections. Japanese and Indian officials are working on ways to release national reserves of crude oil in tandem with the United States and other major economies. This is a negative signal for oil and the British currency, as assets correlate with each other.

Investment idea: sell 1.3423 and take profit 1.3381.

One of the highest demand products in FreshForex is invest-portfolios. Invest-portfolio is an optimal tool for both beginners and experienced traders due to its high efficiency and low work efforts.

This is the 10-portfolio developed by FreshForex specialists. Each of the previous nine portfolios showed positive results, with a total return of 110,7%.

2 steps to get the Invest-portfolio:

✔ Make a deposit of $90 or more until November 29. You fully use these funds in trading.

✔ Send a request to school@freshforex.com with your account number funded.

David Johnson
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus