Correlation between oil and the pound | 14 أغسطس 2020
14 أغسطس 2020, GBP/USD
GBPUSD trading plan:
The positive dynamics of the oil market forces investors to increase long positions in the British currency, as assets correlate with each other. China’s economic recovery continued in July, with industry growing at the same pace as June due to overseas demand. This is a positive signal for the oil market! IEA said that world markets should tighten during the rest of the year as activity recovers and Saudi Arabia and other OPEC nations keep production in check.
Trading recommendation: Buy 1.3060 and take profit 1.3110.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
