05 Febrero 2021, GBP/USD
GBPUSD trading plan:
A bullish rally in the oil market will have a positive impact on the value of the British currency, as the assets are correlated with each other. Oil prices climbed to their highest levels in a year, extending a run of strong gains on signs of economic growth in the United States and a continued commitment by producers to hold back crude supply. The OPEC + this week reaffirmed its support for deep supply cuts which have helped to bring down swollen global crude stockpiles. Chinese demand for crude oil is also helping support the market. When demand drives commodity prices, it has a more bullish impact and leaves a more lasting reflection on price action.
Investment idea: Buy 1.3660 and take profit 1.3711.
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