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Correlation of the pound and oil

Correlation of the pound and oil | 08 Enero 2020

08 Enero 2020, GBP/USD

Correlation of the pound and oil

GBPUSD trading plan:

We are expecting the development of a downward trend. The decline in oil prices will have a negative impact on the value of the British currency. The U.S., including the Department of Homeland Security and the Maritime Administration, have issued warnings about potential threats against websites and American vessels in the Persian Gulf in the wake of the airstrike in Iraq that killed Iran’s Maj. General Soleimani on Friday. U.S. forces in the Middle East were placed on high alert overnight Monday to possibly shoot down Iranian drones amid threats of an imminent attack on U.S. targets.

Trading recommendation: Sell 1.3145 and take profit 1.3120.

David Johnson
Analyst of «FreshForex» company
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