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Correlation between the British currency and oil

Correlation between the British currency and oil | 28 December 2022

28 December 2022, GBP/USD

Correlation between the British currency and oil

GBPUSD trading plan:

China will no longer subject inbound travelers to quarantine from Jan. 8, putting the country on track to emerge from three years of self-imposed global isolation under a Covid Zero policy that battered the economy and stoked historic public discontent. People arriving in China will only be required to obtain negative Covid test results within 48 hours of departure, according to a statement from the National Health Commission. That compares with the current requirement of eight days isolation — five days at a designated quarantine hotel, or central facility, followed by three days at home. This is a positive signal for oil and the British currency, as assets correlate with each other.

Investment idea: buy 1.1990 and take profit 1.2066.

David Johnson
Analyst of «FreshForex» company
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