Positive dynamics of the interbank market

14 January 2022, GBP/USD

Positive dynamics of the interbank market

GBPUSD trading plan:

On the interbank lending market in London, the spread between the Libor rates for the pound and the dollar has widened, which signals a continuation of the upward trend in this currency pair. It is the dynamics of interest rates in the coming months that will have a strong influence on the course of trading in this currency pair. The oil market will provide additional support to the pound, as assets correlate with each other. U.S. crude inventories have dropped for seven consecutive weeks, and overall inventories have been tightening across the globe as major producers struggle to increase supply even as demand rises.

Investment idea: buy 1.3695 and take profit 1.3746.

David Johnson
Analyst of «FreshForex» company
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