Correlation between oil and the British currency | 03 Abril 2020
03 Abril 2020, GBP/USD
GBPUSD trading plan:
A bullish rally in the oil market will have a positive impact on the value of the British currency. “Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be GREAT for the oil & gas industry!” Trump tweeted. The Saudi Press Agency reported that Saudi Arabia had called for an urgent meeting of the OPEC+ group of producers "in appreciation of the US president's request".
Trading recommendation: Buy 1.2350 and take profit 1.2440.
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.
