Correlation between the British currency and oil | 10 Abril 2020

10 Abril 2020, GBP/USD

GBPUSD trading plan:

OPEC+ had tentatively agreed to cut production by about 10 million barrels a day in May and June, delegates said, effectively ending a one-month oil price war. Saudi Arabia and Russia, the biggest producers in the group, would each take output down to about 8.5 million a day. Oil’s spectacular price crash this year has threatened the stability of oil-dependent nations, forced major companies such to rein in spending and risked the very existence of small. This is a positive signal for the oil market and the British currency, as assets correlate with each other.

Trading recommendation: Buy 1.2455 and take profit 1.2490.

David Johnson
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.