Correlation between GBPUSD and BRENT | 26 Marzo 2020
26 Marzo 2020, GBP/USD
GBPUSD trading plan:
A bullish rally in the oil market will provide additional support for the British currency. Gasoline inventories in USA fell by 1.5 million barrels, versus forecasts for a decline of about 660,000 barrels. Distillate stockpiles fell by about 680,000 barrels, compared with expectations for a drawdown of 1.9 million barrels. U.S. Secretary of State Mike Pompeo, in a telephone conversation with Crown Prince Mohammed bin Salman, the ruler of Saudi Arabia, urged the kingdom to "reassure" oil and financial markets amid global risks from Covid-19, the State Department said.
Trading recommendation: Buy 1.1800 and take profit 1.1900.
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.
