Correlation between the British currency and oil | 08 ديسمبر 2020
08 ديسمبر 2020, GBP/USD
GBPUSD trading plan:
The international picture for demand is, however, brighter. Chinese customs data released showed increased imports of crude as refiners again took advantage of a dip in prices due to weaker western demand. China imported an average of 11.3 million barrels a day in the month, up over 9% from a year earlier but still below the volumes seen in spring and early summer, when importers gorged themselves on a world glut. This is a positive signal for the oil market and the British currency, as assets are correlated with each other.
Investment idea: Buy 1.3330 and take profit 1.3370.
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.
